Stanley Ho’s Eldest Daughter Angela Ho Loses Legal Bid To Add Accountants Of Her Choosing To Administer Late Casino King's Assets
She lost the court case to her stepsister, Pansy Ho, who received majority of the support from their many siblings.
Hongkong casino tycoon Stanley Ho passed away in 2020, at the age of 98.
He left behind 14 children, two of whom were recently embroiled in a court case regarding the administration of his assets.
Angela Ho, Stanley’s oldest surviving child with his first wife, estimated her dad’s assets to be worth at least HK$11bil (S$1.9bil), while her sister Pansy Ho, whose mum is Stanley's second wife, estimated the assets to be far less — HK$1.7bil (SG$299mil).
Angela applied to the court to have two estate administrators of her choice from Alvarez & Marsal Asia to be added to the current pair of existing administrators from KPMG, claiming that such an arrangement would “reduce costs.”
This request, however, was opposed by Pansy, who stated that it was in the best interest of the estate and beneficiaries that they stick to their original arrangement of only administrators from KPMG.
Of the 18-19 beneficiaries of Stanley’s estate, at least 15 were in support of Pansy, while Angela was only backed by four beneficiaries.