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Great Eagle founder seeks 30-year documents in call to dismiss trustee


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Great Eagle founder seeks 30-year documents in call to dismiss trustee

Lawyers for the wife of Great Eagle Holdings Ltd. Founder Lo Ying-shek have requested the family's trustee, HSBC International Trustee, to provide documents for the past 30 years to support its claim that it followed the family's instructions on the use of funds allotted for charity, The (Hong Kong) Standard reported.

In a court filing made in 2016, Lo To Lee-kwan is seeking to dismiss HSBC International as the family's trustee because it had not followed her instructions since 2016, according to the report. The family matriarch has gained the support of three of her six sons on her claim.

HSBC International, which was appointed as trustee of the family in 1984 and holds 33.48% of Great Eagle, denied the accusations, saying it "has managed the trust loyally and impartially." Its dismissal is being opposed by Great Eagle Chairman and third son Lo Ka-shui and fifth son Archie Lo Ying-sui, who are aligning with Shui On Land Ltd. Chairman and fourth son Vincent Lo Hong-sui, the Dec. 22 report noted.

Youngest son Lo Kai-shui told the news outlet that HSBC International should provide the records to disprove the accusations. He, along with the Lo To's eldest son Antony Lo Hong-sui and second son Lo Yuk-sui, is backing his mother on her allegations as he has also previously raised doubts about HSBC International's management of the fund, according to the report. Lo added that the family dispute involving Great Eagle, which has been going on for over a year, should not be extended and come to an end.