谈输赢为之过早？娃哈哈离岸家族信托尚未设立，宗庆后这一安排缘何搁浅

Core Viewpoint - The Hong Kong High Court has issued a property preservation order regarding the family trust case of Wahaha founder Zong Qinghou, freezing assets in Jian Hao Ventures Limited's HSBC account, but the substantive issues remain unresolved [1][8] Group 1: Trust Establishment and Legal Proceedings - Zong Qinghou intended to establish three offshore family trusts for his three children, with each trust having an initial capital of $700 million, but the trusts have not been formally established yet [2][3] - The trust establishment process involves multiple documents, including handwritten instructions and a delegation letter from Zong Qinghou to his daughter Zong Fuli, indicating his intent for the trusts [2][3] - The ongoing legal dispute highlights uncertainties regarding the recognition of the trust under Hong Kong or mainland Chinese law, and the validity of the delegation letter and its potential conflicts with Zong Qinghou's will [1][4][11] Group 2: Disputes and Communication Breakdown - Zong Fuli claims that the delay in establishing the trusts is due to unresolved disagreements with her siblings regarding the trust's terms, particularly the scope of trust assets [5][6] - The three children allege that Zong Fuli has not established the trusts and has transferred at least $1.08512 million from the HSBC account for unspecified purposes [4][5] - Zong Fuli asserts that the trust assets are limited to interest income, not the principal, and disputes the claim that the HSBC account ever held $2.1 billion, stating it was valued at $1.8 billion as of May 31, 2024 [5][6] Group 3: Legal Implications and Future Considerations - The case is expected to draw significant attention due to its complexity and the lack of similar cross-border precedents, with the Hangzhou court's ruling being crucial [8][9] - Legal experts suggest that if the Hangzhou court recognizes the existence of a constructive trust, it could shift the focus from whether a trust agreement was signed to whether the trustee fulfilled their obligations [10][11] - The outcome may set a precedent for cross-jurisdictional trust enforcement, particularly if the three children are recognized as beneficiaries of the assets in the HSBC account [13]