Sunday, August 16, 2009

Children Battle Over Estate of Wang

A New Jersey judge refused today to dismiss a lawsuit over who should administer the multibillion dollar estate of Formosa Plastics Group founder Wang Yung-ching.

Wang was Taiwan’s second-richest man when he died at age 91 without a will in October in New Jersey. The eldest of his nine children, Winston Wong, sued on May 13 in state court in Newark, New Jersey, arguing the case should be heard there because of his father’s extensive business holdings in the state.

Four of Wang’s children, led by his daughter Susan, asked Superior Court Judge Walter Kaprowski Jr. to dismiss the case, claiming their father had no assets in New Jersey and the matter should be decided in Taiwan. Kaprowski denied that bid and also said the parties need to gather pretrial evidence to determine whether Wang owned assets and was a resident of New Jersey.

Kaprowski ruled at the hearing: “It’s an issue that requires some discovery so that I can make a jurisdictional ruling as to whether this matter can proceed.”

Full Article and Source:
N.J. Judge Retains Case Over Estate of Formosa’s Wang

More information:
Tycoon's children battle to control late father's cash

Estate Hearing


Anonymous said...

This is a shame. I bet the lawyers can hardly wait to open up the paper in the morning to see who's fighting over their inheritance ---they know they're the ones who will end up with it.

AntiShyster said...

A real judge? He's asking for evidence, instead of just making a decision!

Anonymous said...

Too bad he didn't have a will -- not that it would have been followed, mind you.