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Stanley Ho files new suit to reclaim casino stake - BusinessWeek

Thursday, 17 February 2011 06:42 administrator
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By KELVIN CHAN

HONG KONG

Lawyers for Asian casino magnate Stanley Ho have filed a new lawsuit in an attempt to get back a $1.45 billion stake in his Macau gambling empire that he says was seized by family members.

Law firm Oldham, Li and Nie said Wednesday it filed legal

proceedings in Hong Kong's High Court.

It's the second time the firm has taken legal action to recover the stake. The first suit was withdrawn after Ho and family members agreed to negotiate an agreement.

The law firm said in a statement that two of Ho's daughters have broken their promise to return the stake.

It's yet another twist in a family feud that erupted in late January over who will control Ho's interests in the world's biggest gambling market.




Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEhrfrvpxJ0mSkLsVGtfD3Px1pGvw&url=http://www.businessweek.com/ap/financialnews/D9LDO60O0.htm

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