Contested Wills
Teddy Wang was declared dead in 1999. Although his body was never found, the battle over his fortune began in earnest, with at least three different wills circulating in the court system. The earliest will, the authenticity of which is not contested, was dated 1960 and split the estate equally between Teddy's father Wang Din-shin and Nina. A 1968 version produced by Din-shin (authenticity challenged) gave the entire estate to Din-shin. This will was made after Teddy discovered that his wife was having an affair. A 1990 will (dated a month before Teddy's abduction) ceded the entire estate to Nina and included the phrase "one life, one love", in English, with the rest of the will in Chinese, stating that the Wang family was disappointing. This will had a signature indicating it was witnessed by the family butler.
On 21 November 2002, after a 171-day courtroom battle featuring some of Hong Kong's most prominent lawyers and Wang Din-shin accusing Nina of adultery, High Court Justice David Yam declared the 1990 will a forgery and awarded all of Teddy Wang's estimated $128 million estate to Wang Din-shin. Nina appealed against the ruling but lost in a 2-1 decision on 28 June 2004. The money was handed over to Wang Din-shin. On 28 January 2005, Nina was formally charged with the forgery and freed on bail.
On 16 September 2005, the Court of Final Appeal overturned the previous High Court ruling, giving control of the multi-billion dollar Chinachem firm back to Mrs Wang. On 2 December 2005, prosecutors in the fraud case officially dropped all charges, effectively exonerating Wang.
Read more about this topic: Nina Wang
Famous quotes containing the words contested and/or wills:
“Another danger is imminent: A contested result. And we have no such means for its decision as ought to be provided by law. This must be attended to hereafter.... If a contest comes now it may lead to a conflict of arms. I can only try to do my duty to my countrymen in that case. I shall let no personal ambition turn me from the path of duty. Bloodshed and civil war must be averted if possible. If forced to fight, I have no fears from lack of courage or firmness.”
—Rutherford Birchard Hayes (1822–1893)
“My dear Mrs. Reed, sometimes in my profession there comes a contest of wills between the doctor and his patient. The patients are clever. Oh, very clever. And they can fool the doctor. Sometimes.”
—Dewitt Bodeen (1908–1988)