© SCMP Deborah Ho has requested her elder sister Angela to elaborate on the amount and state of property of the family trusts. Photo: Edward Wong
A rift has surfaced among gaming magnate Stanley Ho Hung-sun's next of kin over his two family trusts.
(Hongkong May, 26) Hong Kong-Macau business magnate, investor, and philanthropist Stanley Ho Hung-sun has died at the age of 98. Stanley was born in 1921 in Guangzhou. He had 4 wives and 17 children.
- Stanley Ho has a total of 17 children from a total of four marriages and one of his youngest children is going viral for her beauty.
- A rift has surfaced among gaming magnate Stanley Ho Hung-sun's next of kin over his two family trusts. Deborah Ho, a daughter of the tycoon's deceased first wife Clementina Leitao, triggered a.
- 1 of 4 Stanley and Clementina were quite the lookers in their younger days While his second, third and fourth wives and their kids are still very much in the public eye, little is known about the.
Deborah Ho, a daughter of the tycoon's deceased first wife Clementina Leitao, triggered a legal action in the High Court last Tuesday by asking her elder sister, Angela Ho Chiu-yin, who is the trustee of The Clementina Ho Trust and The Stanley and Clementina Family Trusts, to provide her with deeds and documents related to changes to the trusts' arrangement.
Deborah, as a beneficiary, also requested Angela elaborate on the amount and state of property of the trusts.
Trust deeds, deeds involving removal and appointment of trustees, information of changes in the structure of the trusts, full trust accounts and financial statements and documents concerning remuneration received by Angela or other previous trustees were among the information she is seeking.
Casino tycoon Stanley Ho's son paid US$64 million for Hong Kong
Deborah also requested that her sister provide copies of all communications that had been made between Angela or other previous trustees and their legal advisers.
The minutes of three meetings between Angela and the beneficiaries, including herself, between 2013 and 2015 in her lawyers' firm, and the minutes and PowerPoint slides relating to a meeting on January 15 in the same location were also requested.
The documents must be handed over within seven days after the court made the orders.
© Provided by South China Morning Post Angela Ho's lawyers issued a statement terming the legal action 'unfortunate'. Photo: David WongStanley Ho Children Angela And Deborah
A Friday statement Angela's lawyers issued on her behalf said it was unfortunate her sister had issued proceedings against her to obtain the documents.
It said under Angela's management, the trusts had outperformed the market and had been operating in a compliant manner. All beneficiaries' needs had been taken care of equally, and Deborah had not been denied any access to information relating to the trusts, it said.
The trusts had held annual meetings to reveal to all beneficiaries the status of its assets and performances. Deborah's questions were also addressed during the meetings.
Stanley Ho's four-decade grip on the world's biggest casino hub
'Deborah claims that she is ill in Macau and poor, and this is unfortunately a fabrication as she has received distributions annually on time and has received around HK$97 million (US$12.5 million),' it said.
Angela was quoted as saying: 'I am very sad and dismayed that all the family members have been dragged into this matter due to Deborah's unnecessary and disruptive actions.'
'King of Gambling' Stanley Ho, 98, one of Asia's richest men, monopolised the gaming industry in Macau until 2002, when the casino hub's government introduced foreign investors.
The Hong Kong-Macau business magnate co-founded SJM Holdings in 1962, which owns nineteen casinos in Macau including the Grand Lisboa. He has four wives and 17 children.
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This article originally appeared on the South China Morning Post (www.scmp.com), the leading news media reporting on China and Asia.
Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.
The daughter of Stanley Ho, the richest billionaire in Macau is incredibly beautiful.
Stanley Ho has a total of 17 children from a total of four marriages and one of his youngest children is going viral for her beauty.
A post shared by Laurinda Ho (@laurinda_ho) on
Laurinda Ho is 26 years old has over 320,000 followers on Instagram and actively shows off many photos of her life.
A post shared by Laurinda Ho (@laurinda_ho) on
She uploads many photos of herself with her friends, showing off how great her friendships are.
A post shared by Laurinda Ho (@laurinda_ho) on
Laurinda actually has a twin brother and they are really close as well!
A post shared by Laurinda Ho (@laurinda_ho) on
Stanley Ho Children
Every time she uploads a selfie, Laurinda is showered with compliments from her countless fans.
A post shared by Laurinda Ho (@laurinda_ho) on
Laurinda is such a top class socialite that she even gets to meet celebrities like Leonardo DiCaprio.
A post shared by Laurinda Ho (@laurinda_ho) on
Almost every selfie she uploads, she can be seen with one of the largest smiles!
A post shared by Laurinda Ho (@laurinda_ho) on
Trust deeds, deeds involving removal and appointment of trustees, information of changes in the structure of the trusts, full trust accounts and financial statements and documents concerning remuneration received by Angela or other previous trustees were among the information she is seeking.
Casino tycoon Stanley Ho's son paid US$64 million for Hong Kong
Deborah also requested that her sister provide copies of all communications that had been made between Angela or other previous trustees and their legal advisers.
The minutes of three meetings between Angela and the beneficiaries, including herself, between 2013 and 2015 in her lawyers' firm, and the minutes and PowerPoint slides relating to a meeting on January 15 in the same location were also requested.
The documents must be handed over within seven days after the court made the orders.
© Provided by South China Morning Post Angela Ho's lawyers issued a statement terming the legal action 'unfortunate'. Photo: David WongStanley Ho Children Angela And Deborah
A Friday statement Angela's lawyers issued on her behalf said it was unfortunate her sister had issued proceedings against her to obtain the documents.
It said under Angela's management, the trusts had outperformed the market and had been operating in a compliant manner. All beneficiaries' needs had been taken care of equally, and Deborah had not been denied any access to information relating to the trusts, it said.
The trusts had held annual meetings to reveal to all beneficiaries the status of its assets and performances. Deborah's questions were also addressed during the meetings.
Stanley Ho's four-decade grip on the world's biggest casino hub
'Deborah claims that she is ill in Macau and poor, and this is unfortunately a fabrication as she has received distributions annually on time and has received around HK$97 million (US$12.5 million),' it said.
Angela was quoted as saying: 'I am very sad and dismayed that all the family members have been dragged into this matter due to Deborah's unnecessary and disruptive actions.'
'King of Gambling' Stanley Ho, 98, one of Asia's richest men, monopolised the gaming industry in Macau until 2002, when the casino hub's government introduced foreign investors.
The Hong Kong-Macau business magnate co-founded SJM Holdings in 1962, which owns nineteen casinos in Macau including the Grand Lisboa. He has four wives and 17 children.
Help us understand what you are interested in so that we can improve SCMP and provide a better experience for you. We would like to invite you to take this five-minute survey on how you engage with SCMP and the news.
More Articles from SCMP
This article originally appeared on the South China Morning Post (www.scmp.com), the leading news media reporting on China and Asia.
Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.
The daughter of Stanley Ho, the richest billionaire in Macau is incredibly beautiful.
Stanley Ho has a total of 17 children from a total of four marriages and one of his youngest children is going viral for her beauty.
A post shared by Laurinda Ho (@laurinda_ho) on
Laurinda Ho is 26 years old has over 320,000 followers on Instagram and actively shows off many photos of her life.
A post shared by Laurinda Ho (@laurinda_ho) on
She uploads many photos of herself with her friends, showing off how great her friendships are.
A post shared by Laurinda Ho (@laurinda_ho) on
Laurinda actually has a twin brother and they are really close as well!
A post shared by Laurinda Ho (@laurinda_ho) on
Stanley Ho Children
Every time she uploads a selfie, Laurinda is showered with compliments from her countless fans.
A post shared by Laurinda Ho (@laurinda_ho) on
Laurinda is such a top class socialite that she even gets to meet celebrities like Leonardo DiCaprio.
A post shared by Laurinda Ho (@laurinda_ho) on
Almost every selfie she uploads, she can be seen with one of the largest smiles!
A post shared by Laurinda Ho (@laurinda_ho) on
Laurinda is all positive vibes it's not surprising that she has such a great following of fans.
Stanley Ho 17 Children
A post shared by Laurinda Ho (@laurinda_ho) on
