Ownership of Beijing Imperial Palace under dispute again

The ownership of Beijing Imperial Palace Hotel has fallen into dispute again following local businessman Ng Man Sun stating he still owns “lawful legal title” to use the property, Macau Business Daily reports.

Last week, Empresa Hoteleira de Macau Lda announced it had transferred ownership of the hotel to Victory Success Holdings Limited. According to the filing, Victory Success had become the new owner of the Taipa property since October 22, 2015 and added the transfer of the property is in the form of a settlement in lieu of debt.

Mr. Ng, who acquired Empresa Hoteleira in 1996 said the transfer announcement was made by Victory Success in order to ‘influence’ the outcome of a lawsuit in which he is involved in for the rights to the company, according to Jornal Tribuna de Macau.

Currently, Mr. Ng’s Hong Kong-listed company Amax International Holdings owns 24.8 percent stake in Greek Mythology Entertainment - the operator of Greek Mythology Casino.

Latest Intelligence

Latest issue

PATA CEO sees slow recovery, but optimism for future

AGB Podcasts