'Happy ending' as Fok heirs end yearslong legal drama

The feuding children of late tycoon Henry Fok Ying-tung with his first wife have ended their almost 10-year-long court battle in the High Court after reaching a "substantial" partial settlement - and spending HK$500 million in lawyers' fees.

There was still a hiccup: the children from Fok's second and third marriages decided to make a counterclaim of being dragged into the feud, saying they were dissatisfied that a settlement agreed upon in 2012 was set aside and the distribution of some HK$25 million owed to them was postponed.

But High Court judge David Lok Kai-hong rejected their application yesterday, saying they have sued the "wrong person" and on insufficient grounds.

Judge Lok added he will give a written judgment later.

The plaintiffs of the family feud - son Benjamin Fok Chun-yue and daughters Nora Fok Lai-lor and Patricia Fok Lai-ping - told Judge Lok that an agreement has been made with defendants Ian Fok Chun-wan and Timothy Fok Tsun-ting following settlement talks outside court for almost two weeks.

The plaintiffs also told the court that their half-siblings from their father's second and third marriages agreed to the settlement.

The feud was thought to be settled in 2012 but the plaintiffs filed a writ to the court to restart the legal battle in 2016 after accusing their brothers of allegedly concealing a buyback agreement on the HK$8.5 billion Nansha project in Guangzhou.

Sources told Sing Tao Daily, The Standard's sister newspaper, that the late Fok's wealth amounted to about HK$30 billion, including a number of properties.

The settlement reached yesterday made eldest son Timothy Fok and second son Ian Fok get bigger portions, followed by their younger brother Benjamin Fok. Their two sisters will get smaller portions. Sources also said that some properties will not be sold - including the family mansion, Stone Manor in Pok Fu Lam - as well as the mansion on Pollock's Path on The Peak, and Pedder Building in Central.

And cash will be distributed proportionately to family members of Fok's first marriage.

Sources also said the family had spent HK$500 million on lawyers' fees for the decade-long lawsuit.

Judge Lok congratulated the family for the settlement and said it was a "sad case" that had "a happy ending."

He then agreed to issue a summon to dismiss the proceeding.

Judge Lok said the late Fok had made significant contributions to the modernization of China and the development of Nansha.

And despite difficulties before and after the death of the tycoon, Judge Lok said there were family members still willing to make sacrifices to continue to fulfil the Nansha dream of their father.

Judge Lok said he hopes that anyone who benefited from the Nansha project would not forget the Fok family.

Judge Lok also said the family feud received public attention and he believed the late tycoon would not want to see his family divided.

The settlement of this case can send a good message to people, showing that no matter how big the problem is, it can be solved, Judge Lok added.

Speaking to reporters outside the court yesterday, Benjamin Fok said he was happy about the settlement.

"We appreciate the wise words of the judge and we will try our best to maintain the harmony within the family, continue to uphold the will of our father and make contributions to society.

"Thank you for the concern from the media and I wish you a happy new year."

sophie.hui@singtaonewscorp.com