A Taiwanese court has thrown out a challenge to the will of Chang Yung-fa (YF Chang), founder of Evergreen Marine and Eva Air.
Chang Kuo-wei (KW Chang) now stands to inherit some $460m of his father's wealth. The outcome is considered unlikely to return him to any role with the companies he briefly headed.
An Evergreen spokesman declined to comment on the legal victory of its former chairman.
“The case is a matter between individual shareholders. As such Evergreen cannot comment. The judgment will have no effect on the operation of the group,” said a spokesman in a statement provided to TradeWinds.
Liner shipping pioneer YF Chang died in January 2016, leaving youngest son KW Chang at the helm of the group founded by his father.
The death set off a struggle for control of the transport and real-estate empire as the founder's children by an earlier marriage contested the will in court. In addition to the court fight, the rival family members have undermined provisions governing executive succession at Evergreen.
In early 2016, KW Chang's three elder half-brothers — Chang Kuo-hua, Chang Kuo-ming and Chang Kuo-cheng — effectively removed him from control by abolishing the posts to which his father had appointed him.
YF Chang had dictated and signed the brief will with four witnesses present in November 2014.
Sole inheritor
In addition to giving KW Chang top management authority, the document made him sole inheritor of his father's wealth, which Taiwan's Apple Daily newspaper pegs at some TWD 24bn ($790m).
Under Taiwanese law, other children and grandchildren of the deceased automatically have claims to portions of the estate despite provisions of the will. Apple Daily estimates that Chang Kuo-wei stands to collect some $460m.
In 2018, Chang Kuo-cheng filed a suit to overturn the will, but the action was rejected last week by the Taipei District Court. That result may be appealed, according to Taiwanese press reports.
KW Chang, 50, is a licensed air pilot, and after his ouster from Evergreen and Eva, he founded his own StarLux Airlines. StarLux commenced operations early this year, before the worldwide airline crisis caused by the coronavirus pandemic.
