If you’ve travelled in Asia at all, as I have, you know of billionaire Stanley Ho, he of the Macau casinos.
Now, Ho has filed a lawsuit against some family members to regain control of his assets, extending a three-week public dispute over Asia’s biggest casino company.
Ho is accusing his daughters Pansy Ho and Daisy Ho of seizing the tycoon’s holding in Sociedade de Turismo e Diversoes de Macau SA.
The complaint follows a Jan. 26 lawsuit that was withdrawn after an oral agreement by them to return the stake, according to the new claim.
The 89-year-old Ho, who built his casino business with a four- decade monopoly in Macau is embroiled in a family feud over a stake that’s worth at least HK$11.2 billion ($1.44 billion).
We’ll keep you posted.
The dispute is sure to effect stock prices.