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Rediff News  All News  » Business » Asia's richest woman wins battle for fortune

Asia's richest woman wins battle for fortune

September 16, 2005 20:54 IST

Asia's richest woman Nina Wang on Friday won the eight-year-long legal battle to get back control of her late husband's multi-billion dollar family fortune from her 94-year-old father-in-law.

According to the verdict of Hong Kong court of final appeal, the will of Nina Wang's late husband Teddy Wang The Huei dated March 12, 1990, was his last.

The will was presented to court by Nina Wang and it indicated that Nina could maintain the family fortune estimated at about $51.6 million.

Nina's husband was kidnapped in 1983 but released after the family paid $11 million. Teddy was kidnapped again on April, 10, 1990, the family then paid $60 million, but he never showed up again and his body was also not found.

The battle for the control of Wang estate, then began and was going on for the last eight years. Hong Kong's high court ruled three years ago that the 1990 will naming Nina Wang as the sole beneficiary was forged and awarded the entire family fortune to her father-in-law Wang Din-shin.

In a separate development, Nina's brother Kung Yan-sum, who testified on her side, was attacked under mysterious circumstances on the eve of the verdict on Thursday night.

Nina Wang, one of the four children in the Jung family, was the eldest and her brother was the only one who supported her throughout the marathon trial, the report said.

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