17 Feb '11, 1am

Stanley Ho files suit to reclaim S$1.8-billion casino stake: Lawyers for Asian casino magnate Stanley Ho have fi...

Lawyers for Asian casino magnate Stanley Ho have filed a lawsuit in an attempt to get back his HK$11.2-billion (S$1.84-billion) stake in his Macau gambling empire that he says was seized by family members. Law firm Oldham, Li and Nie said yesterday it filed legal proceedings in Hong Kong's High Court. It is the second time the firm has taken legal action to recover the stake. The first Jan 26 suit was withdrawn after Mr Ho and family members agreed to negotiate an agreement. The law firm said in a statement that two of Mr Ho's daughters, Pansy and Daisy, have broken their promise to return the tycoon's holding in Sociedade de Turismo e Diversoes de Macau which controls SJM Holdings Ltd. It is yet another twist in a family feud that erupted late last month over who will control Mr Ho's interests in the world's biggest gambling market. "A lawsuit will be bad for the stock pr...

Full article: http://www.todayonline.com/World/Worldinbrief/EDC110217-0...

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