By Peter Lee
After a fist fight between two of Lee Sr’s Administrators, namely Michelle (Lee Sr’s daughter) and Connie (Lee Sr’s second wife), Michelle informed her Co-Administrator brother, John Lee, that she is adamant in immediately transferring their father’s shares of 70%, in three of the family companies, to her mum, Mrs Patricia Lee by using some pre-signed share transfer forms which were signed by Lee Sr during his lifetime. She felt that her action will prevent Connie from receiving these shares through Intestacy Law. However, John Lee pointed out that her action could cause problems for their mother. But Michelle told John that is the only way at the moment to protect these shares and she will talk to their mother about this before giving instruction to their Company Secretary to execute the transfer.
Michelle then called her mother and told her what had happened between her and Connie while trying to convince her to renounce her entitlement to the 70% of shares in three of the family companies. Without hesitation, Mrs Patricia Lee said to Michelle “Over my dead body is she going to get these shares. Just execute the transfer.” Michelle further asked, “Do I need to explain to the rest of our family members?” In response Mrs Patricia Lee said, “I will tell them myself that this is my wish and this is the time to do it since you have the pre-signed share transfer forms. With her mother’s consent, Michelle immediately called her Company Secretary to deal with the transfer to her mum. But her instruction was being questioned by her Company Secretary with regards to the validity of the pre-signed share transfer forms. Michelle then explained to her Company Secretary that this is what her father wanted when he was alive. That’s the reason why he signed the share transfer forms. She went on to assure the Company Secretary that all the Directors have given their consent to this.
However, the Company Secretary was not convinced and asked Michelle to produce the Letter Of Administration (L.A.) in which she replied by saying that it’s in the process. “In that case I will transfer the shares once the L.A. is obtained,” said the Company Secretary. Michelle was very annoyed at that point and said, “You have been our Company Secretary for so long and knowing our position, can’t you just help us out on this?” The Company Secretary replied, “Michelle! Your late father and I are old friends but I can’t do this transfer since I have news that his second wife has mysteriously appeared and lays claim to his estate. If I do it for you, I will definitely face a lawsuit from your father’s second wife. At the same time, your mother is going to be sued for this too. So, I would prefer to see the L.A. first so as to give me a clear direction on how the distribution of your father’s estate is going to be.” In response, Michelle said, “For your information, my mother is ready for any lawsuit. Anyway, since you have your principles and I have to do what I have to do, I would like you to resign as our Company Secretary with immediate effect. “I have no problem with this,” said the Company Secretary.
To be continued…
