Brother of late Chinachem tycoon Nina Wang seeks to remove ‘big four’ accounting firm PwC from running HK$137 billion estate
- Wang’s younger brother Dr Kung Yan-sum says he filed a letter with the Department of Justice to remove interim administrator
- Company is charging too much and failing to fulfil its responsibilities, he says
The brother of late tycoon Nina Wang Kung Yu-sum is pushing to replace the “big four” accounting firm managing his sister’s HK$137 billion (US$17.6 billion) estate, saying the company is charging too much and failing to fulfil its responsibilities.
Wang’s younger brother Dr Kung Yan-sum, who sits on Chinachem Group’s executive committee and is chairman of the Chinachem Charitable Foundation, said he had filed a letter with the Department of Justice on Wednesday, seeking to remove PwC as interim administrator of the estate.
Kung’s move marked the latest row in a long-running saga over the assets of Wang, who died of cancer in 2007 aged 69.
The department’s involvement stems from a court ruling four years ago for the secretary for justice, who acts as protector of charities, to help fulfil Wang’s last wishes.
“Their charges are expensive and they haven’t achieved what they should, so I want to replace them,” Kung said.
