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Since his sister's death in 2007, he has been temporarily in charge of managing Chinachem Group and as the chairman of the Chinachem Charitable Foundation. [2] He is representing Chinachem Group in a legal battle against Tony Chan Chun Chuen, a Feng shui master who claimed he was the sole beneficiary of Nina's fortune. [3]
This would have been a complete reversal of Wang's earlier 2002 will, in which she stated that she wished to bequeath her fortune to Chinachem Charitable Foundation, a trust run by her family. On 2 February 2010, the Hong Kong High Court ruled that Wang's estate belonged to the Foundation and not to Chan. [10]
Chinachem Charitable Foundation Ltd. v Chan Chun Chuen and another, HCAP 8/2007; Chinese news. The text of the 1990 will of Teddy Wang; Nina Wang series by the Oriental Press Group; The texts of the 2 wills of Nina Wang, Apple Daily; accessed 24 March 2014.
Chinachem Group (Chinese: 華懋集團) is a corporate group established in Hong Kong by Teddy Wang's father Wang Din Sin (王廷歆). [ 1 ] The early years of the group were dedicated to exploration of and investment in agricultural projects and chemicals.
Teddy Wang Teh-huei (Chinese: 王德輝; 9 September 1933 – missing since 10 April 1990 [1]) was a Chinese businessman and founder of the Chinachem Group who was kidnapped for ransom in 1990, and later declared legally dead. His wife, Nina Wang later launched a lengthy legal battle over her husband's will.
Smile Angel Foundation; SOS Children's Villages [1] The Smile Train; UNICEF; ... See also. China portal; Lists portal; Charitable contribution; Charitable organization;
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William and Flora Hewlett Foundation United States: Menlo Park, California: $8.7 billion 1967 [29] 25 Li Ka Shing Foundation Hong Kong: Hong Kong: $8.3 billion HK$64.4 billion 1980 [30] 26 The Leona M. and Harry B. Helmsley Charitable Trust United States: New York City: $8.3 billion 1999 [31] 27 W. K. Kellogg Foundation Trust United States