An increasing number of wealthy mainland families have been opting to come to Hong Kong for mediation services to solve disputes instead of going to court, according to an expert.
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“There is an increased demand for family mediation services in Hong Kong in recent years, particularly from [mainland] Chinese families,” said Ann Cooley, founder of Hong Kong-based Cooley Family Office, which has offered mediation services to help family offices handle their disputes for three decades.
“Hong Kong is going to benefit from such a trend because the city is an international mediation centre with many experts in this area,” Cooley said in an interview on Thursday.
“Being part of China and the Greater Bay Area means that many wealthy mainland families can take the high-speed train to travel to Hong Kong within an hour to meet their bankers to manage their wealth, as well as to find experts to resolve their family disputes,” she said.
The hidden disputes of wealthy mainland families have come under the microscope recently with the legal battle surrounding the family of Zong Qinghou, the late founder of China’s biggest beverage company, Hangzhou Wahaha Group, barely 12 months after his death.
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