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Samsung boss wins 'inheritance battle' against siblings

Source : ANI
Last Updated: Sat, Feb 02, 2013 08:00 hrs

Samsung chairman Lee Kun-Hee has won a bitter legal battle with his siblings over inheritance of South Korean electronics maker.

Lee Kun-Hee won a court ruling against demands from his siblings to hand over billions of dollars in shares in various companies in the group.

The court allowed Lee, 71, to retain all his shareholdings in the tech gaint.

Members of his family had accused him of hiding shares from them following the death of Lee's father and Samsung founder Lee Byung-Chul.

If the court had ruled against Lee, it would have forced a restructuring of the complex web of shareholdings across the group's entities and weakened his hold on the giant conglomerate, Sky News reports.

The main claimants in court were Lee's brother, Maeng-Hee, his sister Suk-Hee and the children of another brother.

According to the report, Lee called his older brother "greedy" while Maeng-hee described Lee as "acting childish".

They said that Lee had taken over shares worth around 2.5 billion pounds in Samsung Electronics and Samsung Life Insurance that had been held under the names of other people, including Samsung executives. (ANI)




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