The estate case of the late Fok Yingdong, vice chairman of the National Committee of the Chinese People's Political Consultative Conference, will be continued in the High Court today (12th).
Huo Lina, the daughter of the long house, continued to make a statement, saying that her brother Huo Zhenhuan was the only one who knew at the time that the family company could buy back part of the equity in the Nansha development project.
Only in 2011 did he first disclose the buyback rights to family members and inform them that the buyback deadline had passed.
In addition, when Huo Lina and Huo Lina, who belong to different camps, were asked whether they wanted to reconcile, they both expected to reach a settlement.
The plaintiffs in this case are the third son, Huo Zhenyu, the eldest daughter, Huo Liping, and the second daughter, Huo Lina.
The defendants are Changfang's eldest son, Huo Zhenting, second son, Huo Zhenhuan, members of the other two houses, and related family companies, including Huo Xingyetang Real Estate Co., Ltd., Yourong Co., Ltd., and Fok Yingdong Fund Co., Ltd., etc.
In 1997, Yourong transferred 1 share involving the equity of the Nansha Development Project to Fok Ying Tung Fund Co., Ltd. at RMB 1.
And Yourong can repurchase the 1 share on or before June 30, 2007.
The plaintiff now requests that Yourong exercise the repurchase right.
Huo Zhenhuan was asked about the reconciliation outside the court, saying: "We have always hoped for reconciliation."
(Photo by Zhu Dixin)
Huo Zhenhuan said outside court: "We have always hoped for reconciliation"
When the case was adjourned at noon, Huo Lina was asked if she wanted to reconcile. She said, "It's a joke." When Huo Zhenhuan left the court later, he was also asked about reconciliation, saying, "We have always wanted reconciliation." .
The senior counsel Yu Ruohai, who represented Huo Lina, continued his speech today, pointing out that the share transfer in 1997 was not a commercial transaction, and You Rong transferred the shares to Fok Ying Tung Fund Co., Ltd., which provided funds for the development project in Nansha, but was not an investor in the project.
When you have the honor to exercise the repurchase, you can obtain the 1 share, and at the same time, you need to repay the loan and interest to the Fok Yingdong Fund.
Yu continued to point out that Huo Zhenhuan was the only family member who knew the buyback and related terms at that time.
As a director of the company, he has to make full disclosure.
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Huo Zhenhuan's confession that repurchase is meaningless to his father
Yu read out the minutes of several meetings, which suggested that Huo Zhenhuan only mentioned the repurchase right at the family company meeting in November 2011.
At the annual meeting of Fok Ying Tung Fund Co., Ltd. on December 19, 2011, Fok Zhenhuan said: "The deadline will pass, it will pass. If everyone agrees...respect the wishes at the time, you can ask lawyers to study."
Yu pointed out that Huo Zhenhuan's statement is an unrealistic possibility, and Huo Lina agreed to the reconciliation in 2012 because of his statement.
In addition, Yu also read Huo Zhenhuan's confession.
Huo Zhenhuan stated in his confession that if his father, Huo Yingdong, intends to exercise the right of repurchase, he will disclose it to family members, and he will not provide more than 3.5 billion yuan to the former deputy secretary general of Xinhua News Agency Hong Kong Branch, He Mingsi, to develop the Nansha project. This shows that the repurchase is right. For the father, it is meaningless.
However, Holina did not accept the relevant statement.
Case numbers: HCA92, 274, 275/2016
