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Son Attempting to Recover All of Y.C. Wang’s Assets

By Gerry W. Beyer

Winstonwong

As I have previously discussed, Taiwanese billionaire Y.C. Wangpassed away in 2008 without a will.  Inaddition to asking a Bermuda court to void an “unlawful” transfer of billionsinto offshore accounts, Wang’s eldest son and estate administrator, WinstonWong, has also “filed a lawsuit in Hong Kong seeking $4 billion of assets heldby two companies that are alleged to belong to his father’s estate.” 

Wong alleges that these companies are actually trustees used byWang to hold onto his personal assets.  Wongis accusing them of acting dishonestly to misappropriate the assets.

See Debra Mao, Plastic Heir Claims $4 Billion of AssetsMisappropriated, Bloomberg, June 9, 2013; see also Russell Flannery, LateTaiwan Billionaire Y.C. Wang’s Son Expands Estate Battle, Seeks $4 Bln in HongKong, Forbes, June 10, 2013.

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Current Affairs, Estate Administration and Estate Planning - Generally