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Feud within Chinachem family

(HK Edition) Updated : 2016-01-13

Right Margin Limited, a Chinachem Group subsidiary, on Tuesday filed a writ in the High Court against Chinachem Charitable Foundation Chairman Kung Yan-sum for embezzling the company's money to fund a legal battle over the control of the HK$83-billion legacy of late tycoon Nina Wang Kung Yu-sum. Kung Yan-sum allegedly misappropriated HK$50 million from a property investment deal to pay for legal fees against feng shui master Peter Chan Chuen-chun. Chan lost the battle and failed to secure legal aid for his appeal against conviction for use of a false instrument.