SAN FRANCISCO — In a win for lawyers at Gibson, Dunn & Crutcher, a California appeals court has reversed an almost $60 million judgment against one of the daughters of a Hong Kong industrial tycoon.
The decision is a dramatic turn in a yearslong international family feud that centers on a loan made by billionaire Chen Din-Hwa to his daughter Angela Sabella to purchase the Two Bear Ranch in Utah as an investment property in the 1990s. The money was loaned through one of Chen’s many companies, Rostack Investments Inc., and Sabella has contended that her father forgave the loan in 2005 before succumbing to Alzheimer’s disease in 2012.
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