The United Kingdom-based Privy Council is expected to make its ruling today in the case between Lascelles Chin, chief executive officer of the multimillion-dollar company Lasco Foods Ltd., and his ex-wife Audrey Chin.
Following a Court of Appeal ruling, which ordered that Mrs. Chin was entitled to half of the company, Mr. Chin took the case to the Privy Council last January. It is expected that the Privy Council will rule in Mrs. Chin's favour.
The Chins have been engrossed in a legal battle since 1996, when Mrs. Chin brought a suit under the Married Women's Property Act seeking half of the shares in her ex-husband's company. Mr. Chin contended that Mrs. Chin, who is a chartered accountant, was merely an employee in the company and said she was only entitled to one share while he was entitled to 249,999 shares.