Lawyers filed lawsuit seeking return of Stanley Ho company shares
Macao billionaire Stanley Ho lawyers filed a new lawsuit the will seek the return of his shares in Lanceford. The company Lanceford holds most of Ho’s wealth plus his stakes in the Macao casino business.
In a high court filing made by Ho’s lawyers, seeks to block family members from taking control of his assets. The lawsuit also accuses Ho’s family members of violation of an oral agreement that was made in January that they will return Ho’s Lanceford shares in exchange for Ho dropping legal action made earlier against them.
The new lawsuit included Ho’s daughters as the defendants, it also included Lanceford and two British Island firms Action Winner handled by Ho’s third wife Ina Chan Un-chan and Ranillo Investments controlled Ho’s children by his second wife Lucina Laam King-ying. The lawsuit is the second one filed by Ho’s lawyers and it was a signal of the failed negotiations among the family members that attempted to create a truce over the feud in who is taking over and controlling Ho’s vast fortune which is estimated to be at US$ 3.1 billion.
Ho’s is not in good health after a fall his had in his home in 2009. His accident required surgery to remove a clot from his brain. Still he remain the chairman of SJM Holdings and Shun Tak Holding, but in November Ho have transferred his stakes in both of the firms to various members of his families of his second, third and fourth wives.