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19-06-2017, 01:40 PM
‘It’s my decision’: 97-year-old Lo matriarch says she pushed for lawsuit to dismiss HSBC
97-year-old widow of the late company founder says there is no truth to suggestions that she has been manipulated to support lawsuit against HSBC
by Peggy Sito
PUBLISHED : Friday, 16 June, 2017, 10:38pm
UPDATED : Saturday, 17 June, 2017, 2:45pm
Lo To Lee-kwan, the 97-year-old matriarch of Hong Kong property giant Great Eagle Holdings, said it was her own decision to file a lawsuit to dismiss HSBC as a trustee of her family business as the bank did not follow her guidance on managing the estate.
“I asked it to acquire more Great Eagle shares [as] that is good for the company. But it did not carry out the request. It said I had no right [to instruct it],” Lo said.
It is the first time the wife of the company’s late founder Lo Ying-shek spoke to the media explaining why she filed a lawsuit to dismiss the bank as the trustee in what has become a feud that has split her family into two rival factions.
More details in http://www.scmp.com/business/companies/a...t#comments
97-year-old widow of the late company founder says there is no truth to suggestions that she has been manipulated to support lawsuit against HSBC
by Peggy Sito
PUBLISHED : Friday, 16 June, 2017, 10:38pm
UPDATED : Saturday, 17 June, 2017, 2:45pm
Lo To Lee-kwan, the 97-year-old matriarch of Hong Kong property giant Great Eagle Holdings, said it was her own decision to file a lawsuit to dismiss HSBC as a trustee of her family business as the bank did not follow her guidance on managing the estate.
“I asked it to acquire more Great Eagle shares [as] that is good for the company. But it did not carry out the request. It said I had no right [to instruct it],” Lo said.
It is the first time the wife of the company’s late founder Lo Ying-shek spoke to the media explaining why she filed a lawsuit to dismiss the bank as the trustee in what has become a feud that has split her family into two rival factions.
More details in http://www.scmp.com/business/companies/a...t#comments
Specuvestor: Asset - Business - Structure.