A New Jersey tax court judge being asked to help split the fortune of one of the world's richest men has asked for more information to help him decide whether the case even belongs in his courtroom.
At issue is how to divide plastic magnate Wang Yung-ching's fortune, estimated at nearly $7 billion, among at least nine children he fathered with women other than his wife — and whether U.S. or Taiwanese courts will have ultimate jurisdiction over it.
Wang rose from an impoverished tea farmer's son in Taiwan to build the Formosa Plastics Group into a multinational conglomerate with U.S. headquarters in Livingston, just northwest of Newark. He was among Forbes' 200 richest people in the world when he died last year in New Jersey. He left no will, but a complex family tree of potential heirs who are now arguing over his money.
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NJ Judge Seeks More Info on Billionaire's Fortune
Wonder what his own immigration status was and how that will affect the proceedings?
ReplyDeleteI believe if it's profitable for NJ to have the case (and it certainly appears it will be) then NJ will fight for jurisdiction.
ReplyDeleteA bonanza for the attorneys involved with this case. A jurisdiction fight will be very profitable for them!
ReplyDeleteThanks for this interesting story. This is a good one to follow!
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