Revoking a Lasting Power of Attorney Involving Assets Worth $40 Million
Table of Contents
TCZ v TDA, TBA and TDC [2015] SGFC 63;
TDA v TCZ, TDB and TDC [2016] 3 SLR 329;
Chung Khin Chun K (by her deputy Mok Chiu Ling Hedy) v Yang Yin and others [2015] SGHC 215
This case involved greed on an extreme scale.
Mdm Chung Khin Chun (“Mdm Chung”) was a wealthy widow who had approximately $40 million in assets. Her wish was for close to all of her assets to be donated to various charities after her death.
During a trip to China, a tour guide, Yang Yin (“Yang”), befriended Mdm Chung.
Over the years, Yang continued contact with Mdm Chung and slowly entrenched himself into her life. He incorporated a company in Singapore and named himself and Mdm Chung as directors. He obtained permanent residency with Mdm Chung as sponsor. He induced her into signing a will in which Yang would inherit all of her assets. He induced her into signing a lasting power of attorney (“LPA”), giving him the power to make financial decisions on her behalf should she lose mental capacity. Using his decision-making powers, he stole hundreds of thousands of dollars. He and his family even moved into Mdm Chung’s bungalow.
Yang’s shenanigans were later discovered by Mdm Chung’s niece, Mdm Hedy Mok (“Mdm Mok”). She took steps to reverse Yang’s misdeeds. We acted for Mdm Chung in supporting Mdm Mok’s application for the LPA to be revoked. After the LPA was successfully revoked, this set the stage for Mdm Mok to initiate a series of legal proceedings against Yang under Mdm Chung’s name, for breach of his fiduciary duties under the LPA, damages arising from the misappropriation of Mdm Chung’s assets, obtaining a worldwide Mareva Injunction against Yang and his wife prohibiting them from disposing Mdm Chung’s assets worldwide, and obtaining an order for a statutory will consistent with Mdm Chung’s previous intentions for most of her assets to be given to charity.
In this way, justice was eventually restored.
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