Widow goes to court on billionaire’s estate

April 28, 2019

THE first wife of the late billionaire-banker George S.K. Ty has asked the Court of Appeals to declare as null and void two orders issued by a Makati regional trial court in connection with the estate of the famous industrialist who died late last year.

In a petition, Lourdes de Lara Ty, through counsel Dean JV Bautista, told the CA that Makati RTC Branch 134 Judge Redentor Cardenas had not yet acquired jurisdiction over the petition for probate on the last will and testament of the deceased businessman because the petitioner Mary Vy Ty has failed to comply with jurisdictional requirements, specifically publication of the petition in a newspaper of general circulation.

Also, Lourdes de Lara Ty bared that the true identity of the deceased banker was allegedly concealed by identifying him only with his Chinese name Ty Siao Kian. There was no mention that Ty Siao Kian was popularly known by his Filipino name George S. K. Ty.

Furthermore, Lourdes de Lara Ty disclosed that the petition for probate was published in “Fil News Today Publishing,” which was not a newspaper of general circulation.

Included in the estate left behind by George S.K. Ty are Metrobank, Philippine Savings Bank or PSBank, Toyota Motors Phils., Toyota Manila Bay Corp., Manila Doctors Hospital, Axa Insurance, G.T. Capital, Hyatt Hotels, Marco Polo Hotels, Federal Land, Pro-Friends Realty Corp. and several others.

Lourdes de Lara Ty asked in her petition for certiorari that the petition of Mary Vy Ty before Makati RTC Branch 134 be amended to emphasize that Ty Siao Kian is more publicly known as George S.K. Ty.

She also sought the listing of the companies and assets involved in the amended petition and its republication in a known and more reputable Metro Manila-based newspaper.