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“长公主”首战落下风,扒一扒娃哈哈的“烂尾”遗嘱信托
Hu Xiu·2025-08-03 23:50

Core Viewpoint - The offshore family trust controversy surrounding the late Wahaha founder Zong Qinghou has reached a preliminary conclusion, revealing that the trust was not formally established as a contractual trust but rather a presumed trust due to procedural issues [1][2]. Group 1: Trust Establishment and Legal Proceedings - The Hong Kong High Court's ruling on August 1 indicated that the trust was a presumed trust, not a fully established contractual trust, which was unexpected [2]. - The court issued a preservation order to freeze approximately $1.799 billion in assets in the HSBC Hong Kong account, preventing any withdrawals or pledges until the conclusion of the litigation in Hangzhou [5][28]. - The ruling serves as a procedural safeguard to assist the ongoing substantive case in Hangzhou, emphasizing the need for asset transparency [6]. Group 2: Family Dynamics and Trust Management - Zong Qinghou's intention to establish a family trust for his three half-siblings was clear, but the execution was poorly managed, leading to disputes over trust responsibilities and obligations [3][4]. - The trust agreement signed between Zong Qinghou and his daughter, Zong Fuli, was flawed, as it allowed her to act as the trustee while also being a beneficiary, creating a conflict of interest [15][17]. - The family trust structure was described as rudimentary, lacking clear roles for trustees, beneficiaries, and protectors, which contributed to the current legal disputes [16][17]. Group 3: Financial and Regulatory Implications - The $1.8 billion in the offshore account raises questions about the legality and compliance of these funds, particularly regarding foreign exchange regulations and tax implications [22][24]. - The funds' origin and the process of their transfer out of China are under scrutiny, as they must comply with strict regulations set by the State Administration of Foreign Exchange [26]. - The case highlights the need for better understanding and management of family wealth and trust structures among high-net-worth individuals in China [29].