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April 20, 2007

Conflicting Wills Confuse Chinese Charity Case

An heiress to a real-estate fortune in Hong Kong has left contradictory wills that could leave her personal charity with either $4.2-billion or nothing, reports the Taiwanese China Post.

Nina Wang, who died April 3, was Asia’s richest woman, and in a will dated 2002 she left her fortune to the Chinachem Charitable Foundation to set up a Chinese version of the Nobel Prizes.

But a 2006 will has also surfaced, leaving the money to a rumored paramour, Chan Chun-chuen, a real-estate developer and expert in the Chinese practice of feng shui.

This is the second dispute over the money of the late Teddy Wang, Ms. Wang’s husband, who was kidnapped and later presumed died, despite the family paying a $33-million ransom in 1990.

In the earlier case, Ms. Wang prevailed in her claims to the money over Wang Din-shin, Teddy Wang’s father.

Friday April 20, 2007 | Permalink

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