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Macao casino tycoon says he was given raw deal

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China Daily has an article named "Macao casino tycoon says he was given raw deal".
Photo from Reuters.
Descriptions are quoted as below:

"Macao's gaming magnate Stanley Ho has filed a court claim against his children to recover his assets, according to a signed court document, in another twist in the feud over the ailing tycoon's empire.

Just a day earlier, Ho, chairman of Macao's biggest casino operator, SJM Holdings, had given a television interview, saying that he would not sue and wanted to resolve the matter privately with his family.

The latest move in the ongoing tussle for the 89-year-old tycoon's billions of dollars in assets suggests an escalation of tension in the scramble between factions of Ho's family, which includes four wives and at least 17 children.

Ho's lawyer, Gordon Oldham, said on Thursday he had filed a court claim on Ho's behalf against his children, including Pansy and Lawrence Ho, other relatives and companies.

A copy of the court claim filed at Hong Kong's High Court stated that Ho was suing his third wife and the five children of his second wife for issuing new shares without his consent in Lanceford, the main holding company for Ho's interest in SJM, effectively diluting his stake to nothing.

The writ, signed by Ho, sought a reversal of the transaction, declaring that the "shares were improperly and unlawfully allotted". He is also seeking an injunction to "restrain each of them" from making further share allotments or disposals.

"Regarding his statement on television, this was not his sentiment. He wants to continue. He is trying to get his wealth back," Oldham said.

"He had been pressured into making that statement."

Ho, who underwent brain surgery in 2009, appeared calm during his television interview on Wednesday, but his voice was weak and he spoke haltingly as he appealed for harmony within his warring family and for the matter to be resolved privately behind closed doors."

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