Core Viewpoint - The article discusses the recent developments in the inheritance dispute of the late founder of Wahaha, Zong Qinghou, highlighting the legal actions taken regarding his estate, particularly the assets held in a HSBC bank account amounting to approximately $1.8 billion [4][5]. Group 1: Inheritance Dispute Developments - On August 1, the Hong Kong High Court approved the asset preservation request from the plaintiffs (Zong Jichang, Zong Jieli, Zong Jisheng), imposing restrictions on the $1.8 billion in the HSBC account until a final ruling is made by the Hangzhou Intermediate People's Court and the Zhejiang High People's Court [4]. - The court ordered Zong Fuli and Jian Hao Ventures Limited not to dispose of or reduce the value of any assets in the HSBC account, including any substitute assets or recoverable benefits during the specified period [4]. - Zong Qinghou had previously entrusted Zong Fuli to establish trusts totaling $2.1 billion for the plaintiffs, which were not set up as per the agreement [5]. Group 2: Family Trusts in China - The family trust market in China has reached a scale of 640 billion yuan, representing only 2.18% of the total trust assets of 29.56 trillion yuan [8]. - Family trusts are designed for wealth protection, inheritance, and management, with offshore family trusts offering advantages in legal stability, tax policies, and cross-border capital flow [7]. - The structure of family trusts can vary, including standard and customized models, with a significant portion of clients opting for customized trusts that account for 53% of the total trust assets [9]. Group 3: Limitations of Family Trusts - Family trusts face challenges such as outdated legal regulations, unclear tax policies, and high costs associated with non-cash asset transactions [12]. - The core function of family trusts is to achieve asset risk isolation and wealth transmission, but there is a tendency to focus excessively on returns rather than their governance and isolation capabilities [11][12]. - The diverse business models of family trusts include high-threshold cash trusts and low-threshold insurance trusts, reflecting a growing interest in wealth management solutions [11].

Core Points - The Hong Kong High Court ruled that Zong Fuli cannot access approximately $1.8 billion in assets in a HSBC account and must disclose the account's financial transactions [1][2] - The case centers around the "Zong Family Offshore Trust" established by Zong Qinghou, which involves disputes over the rights of his non-marital children and control of the Wahaha Group [1][2] - The trust was intended to benefit Zong Qinghou's children, with a total amount of $2.1 billion allocated across three offshore trusts [1] Summary by Sections - **Legal Proceedings** - The court's decision prevents Zong Fuli and Jian Hao Ventures Limited from withdrawing or transferring assets from the HSBC account until the conclusion of litigation in Hangzhou and Zhejiang [2] - Zong Fuli is required to publicly disclose the account's latest balance and asset changes since February 2, 2024, including the whereabouts of $108,512 that was transferred out [2] - **Family Dynamics** - The plaintiffs, Zong Jichang, Zong Jieli, and Zong Jisheng, claim to be Zong Qinghou's non-marital children, with their mother, Du Jianying, having a controversial relationship with him [2] - Despite the initial legal setback, Zong Fuli maintains public support, contrasting with the plaintiffs who face negative perceptions due to their familial status [2] - **Corporate Governance Risks** - The case highlights common risks in private enterprise succession, including vague asset planning, complex family relationships, and the blending of corporate governance with personal assets [2] - Legal experts recommend that entrepreneurs implement a three-tiered mechanism of "wills + trusts + equity structure" to mitigate risks and prevent internal conflicts among heirs [2]

Core Viewpoint - The core dispute in the lawsuit involving the Zong family trust, which involves assets worth up to $2.1 billion, centers on the definition of trust assets, with Zong Fuli asserting that the trust assets are merely the interest on fixed principal, not the principal itself [1][4]. Summary by Relevant Sections Trust Agreement and Asset Management - The trust agreement signed on February 2, 2024, outlines that Zong Fuli holds assets of Jian Hao Ventures Limited, with Zong Qinghou as the sole director [3]. - Zong Fuli claims she has rights to participate in the trust structure arrangements, emphasizing her role is not merely as an executor but as a stakeholder in the trust [3][6]. Legal Proceedings and Court Decisions - The Hong Kong High Court has approved the asset preservation request from Zong Jichang, Zong Jieli, and Zong Jisheng, placing restrictions on approximately $1.8 billion in assets held in a HSBC account [6][7]. - The injunction will remain in effect until final rulings are made by the Hangzhou Intermediate People's Court and the Zhejiang High People's Court regarding the family trust lawsuit [7]. Trust Structure and Distribution - The trust is set to be established with an initial scale of $2.1 billion, structured as an irrevocable trust, with distributions limited to interest earnings only, prohibiting any claims on the principal [4][5]. - The transition to a Private Trust Company (PTC) model is planned, with Zong Fuli initially acting as a shareholder of the trustee during the transition phase [5].

Core Viewpoint - The court ruling in the asset dispute involving Zong Fuli and her half-siblings indicates a temporary setback for Zong Fuli, as a prohibitory injunction has been issued against her and Jian Hao Ventures Limited regarding the handling of assets in a HSBC bank account, pending the final judgment of a related lawsuit in Hangzhou [1][2][22]. Group 1: Legal Proceedings and Court Rulings - The Hong Kong High Court issued a temporary injunction preventing Zong Fuli and Jian Hao Ventures Limited from withdrawing or transferring any assets from a specific HSBC bank account [1][22]. - The ruling highlights the ongoing dispute over whether the trust established by the late Zong Qinghou includes only interest income or the principal amount in the HSBC account [2][3]. - The court documents reveal that Zong Qinghou had signed two wills before his death, neither of which included Jian Hao Ventures Limited or its assets [1][2]. Group 2: Trust and Asset Dispute - The primary contention revolves around the interpretation of the trust's assets, with Zong Fuli asserting that only the interest income is included, while her half-siblings claim that both principal and interest should be considered trust assets [3][4]. - Evidence submitted by the plaintiffs includes Zong Qinghou's handwritten instructions, which specify that the trust is intended to only distribute interest income, not the principal [4][5]. - The plaintiffs argue that Zong Fuli has delayed the establishment of the trust and has transferred funds from it, prompting them to seek restrictions on her control over the account [2][3]. Group 3: Financial Details and Asset Valuation - As of May 31, 2024, the net assets in the HSBC account held by Jian Hao Ventures Limited were approximately $1.799 billion, primarily consisting of fixed-income assets and a small amount of cash [3][4]. - The plaintiffs demand that Zong Fuli inject $700 million into each offshore trust, totaling $2.1 billion, but Zong Fuli contests that the account's assets have never reached that amount [5][18]. - The court noted that the ongoing dispute over the ownership of the principal and interest in the HSBC account will be a focal point in the Hangzhou litigation [7][21].

记者丨郭聪聪 编辑丨周炎炎 宗馥莉称：信托资产不是2 1亿美元，仅为 "固定本金的利息" 裁定书披露，被告宗馥莉方援引其与宗庆后于2024年2月2日签订的《委托书》第3条， 意味着只有固定本金的利息才 是信托资产，而非本金本身。 在法庭回复当中，她提到，之所以强调这一点是因为在她看来： "原告们似乎错误地认为本金也应是信托资产的一部 分。" 视频丨 柳润瑛 8月1日，牵涉高达21亿美元资产的宗氏家族信托诉讼案在香港开庭。 21世纪经济报道记者通过分析香港高等法院披露的裁决书发现， 双方的核心争议在于信托资产范围的界定。 宗馥莉称：享有参与信托架构安排的权利 宗馥莉进一步辩称，原告三人不应将她简单视为仅具执行义务的受托人（entrustee）， 并主张其对离岸信托文件的条 款拥有话语权。 对此，她援引了与原告方签订《委托书》（二）中的第五条和第六条，特别指出第五条规定：在离岸信托向私人信托 公司过渡期间，宗馥莉（Kelly） 将成为"受托人的股东"。她强调，这意味着其有权参与信托架构的安排。 宗庆后与宗馥莉2024年2月2日签订的《委托书》 据裁决书披露，《委托书》的核心内容包括两方面： 其一，宗馥莉代宗庆后持 ...

Core Viewpoint - The Hong Kong High Court's ruling on the Zong family trust case, involving assets worth up to $2.1 billion, clarifies the trust's establishment timeline and addresses long-standing speculations by disclosing key documents [1][12]. Timeline of Trust Establishment - In January 2024, Zong Qinghou issued a handwritten directive for the establishment of trusts for Zong Jichang, Zong Jieli, and Zong Jisheng, each valued at $700 million, to be set up at HSBC Bank [2]. - On February 2, 2024, Zong Qinghou and Zong Fuli signed a power of attorney, designating Zong Fuli as the settlor for the offshore trusts and outlining key terms regarding beneficiaries and asset management [4]. - On February 25, 2024, Zong Qinghou passed away [6]. - On March 14, 2024, Zong Fuli and the other beneficiaries confirmed the trust's establishment, with a total initial value of $2.1 billion, structured as an irrevocable trust [7]. Dispute Over Trust Establishment - The dispute arose over the trust's asset scope, trustee authority, and establishment progress, with the plaintiffs accusing Zong Fuli of delaying the process and acting with hostility towards them [8][9]. - Zong Fuli's defense claimed that the disagreements were the root cause of the delays and that she had not acted against the terms of the agreements [10][11]. Court Ruling and Asset Preservation - On August 1, 2024, the Hong Kong High Court approved the plaintiffs' request for asset preservation, imposing restrictions on approximately $1.8 billion in HSBC accounts until a final ruling is made by the courts in Hangzhou [12].

记者丨郭聪聪 编辑丨周炎炎 8月1日，牵涉高达21亿美元资产的宗氏家族信托诉讼案在香港开庭。 随着香港高等法院裁决书的披露，这起备受瞩目的家族信托谜团逐渐清晰——裁决书不仅系统梳理了信托设立的关键时间节点，更首次披露了 多份核心文件，对坊间长期以来的诸多猜测作出了直接回应。 视频编辑 柳润瑛 信托设立时间线披露 裁决书详细披露了宗氏信托从酝酿到推进的关键时间节点： 2024年1月： 宗庆后手写的一份文件指示，要求郭虹赴香港办理宗继昌、宗婕莉、宗继盛三人的信托事宜。指示明确，信托需在汇丰银行设立，每人规模为 7亿美元；信托性质为 "长期不动本金，仅收取利息"，并需按香港法律签订合同且经香港公证处公证；受益人限定为本人及子孙，与配偶无 关，属婚前财产。同时，因汇丰账户美金不足，需将人民币兑换为美金，且优先办理宗继昌、宗婕莉的信托，待美金充足后再为宗继盛办理。 2024年2月2日： 宗庆后与宗馥莉签订《委托书》，核心内容包括两方面：一是宗馥莉代宗庆后持有建浩创投有限公司（Jian Hao Ventures Limited）资产，公 司登记股东为宗馥莉，宗庆后为唯一董事；二是宗庆后委托宗馥莉作为设立人，分别为宗继昌、 ...

（原标题：宗馥莉，首战输了？不得挪用18亿美元资产！） 娃哈哈集团已故创始人宗庆后遗产纠纷案有了最新进展。 对于这笔近110万美元的转出，宗馥莉方面称，涉案信托账户资金是公司海外拓展储备金，这笔美元的 转账是用于支付越南工厂设备尾款，并提供了合同及发票佐证。 判决书还显示，原告要求宗馥莉履行宗庆后遗愿，支付信托资产收益数百万美元，并赔偿资金转移损 失。 责编：李丹 据了解，3名原告为宗继昌（Jacky Zong）、宗婕莉（Jessie Jieli Zong）和宗继盛（Jerry Jisheng Zong）。被告为宗馥莉（Kelly Fuli Zong），她是宗庆后与原配的唯一女儿、现任娃哈哈董事长；次被 告是建浩创投有限公司（Jian Hao Ventures Limited）。 Jian Hao Ventures Limited是根据英属维尔京群岛（BVI）法律注册成立的公司，宗庆后生前为此公司的 唯一董事，宗庆后死后由宗馥莉接任。截至2024年5月31日，此公司在香港汇丰银行账户持有17.99亿美 元（折合141亿港元），主要包括债券及其他固定收益资产，以及部分现金和定期存款。 判决书显示，宗庆后与宗馥莉 ...

娃哈哈集团已故创始人宗庆后遗产纠纷案有了最新进展。 今日（8月1日）下午4时，香港高等法院宣布了对该案的决定，由双方律所派代表前来领取签收。 香港高等法院今日颁发非正审禁制令，裁定宗馥莉在杭州中级人民法院及浙江高级人民法院诉讼有结果 前，除非法庭有其他命令，否则不得从Jian Hao Ventures Limited的香港汇丰银行账户提款或转账任何资 产。另亦需披露该汇丰账户的最新余额、资产去向及收支完整账目。若在2024年2月2日或之后，户口内 的资产转至第三方的，被告亦需交代相资料。 Jian Hao Ventures Limited是根据英属维尔京群岛（BVI）法律注册成立的公司，宗庆后生前为此公司的 唯一董事，宗庆后死后由宗馥莉接任。截至2024年5月31日，此公司在香港汇丰银行账户持有17.99亿美 元（折合141亿港元），主要包括债券及其他固定收益资产，以及部分现金和定期存款。 判决书显示，宗庆后与宗馥莉曾签订一份委托协议。根据协议内容，宗庆后委托宗馥莉设立三个境外信 托（"信托A""信托B""信托C"），信托A以宗继昌及其子女作为信托受益人；信托B以宗婕莉及其子女 作为信托受益人；信托C以宗继盛 ...

Core Viewpoint - The inheritance dispute involving Zong Qinghou, the founder of Wahaha Group, has seen a significant development with a Hong Kong court ruling that temporarily prevents Zong Fuli from accessing $1.8 billion in assets held in a HSBC account, pending the outcome of related litigation in mainland China [1][2]. Group 1: Court Ruling and Asset Management - The Hong Kong High Court issued a temporary injunction preventing Zong Fuli from withdrawing or transferring any assets from the HSBC account of Jianhao Investment Co., which holds approximately $1.799 billion [2][3]. - The court's decision aims to ensure the effectiveness of ongoing litigation in Hangzhou regarding the inheritance dispute, modifying previous terms to focus on asset withdrawal rather than overall asset management [2]. Group 2: Details of the Inheritance Dispute - Zong Fuli is being sued by her half-siblings, Zong Jichang, Zong Jieli, and Zong Jisheng, who claim rights to a trust worth $2.1 billion established by their father, Zong Qinghou, and seek to prevent her from disposing of the assets in the HSBC account [3][4]. - The court revealed that Zong Qinghou had established two wills in February 2024, neither of which included his half-siblings as beneficiaries, instead designating Zong Fuli and other family members [4][5]. Group 3: Trust Agreements and Family Dynamics - Zong Qinghou had previously signed an agreement to establish three offshore trusts for his children from different marriages, with a total value of $2.1 billion, but these trusts have not yet been formally established [4][5]. - The court emphasized that the trust and fiduciary relationship issues remain contentious and have not been definitively resolved, indicating ongoing legal complexities [5].