25 September 2015

Establishment of the LUI Che Woo Prize — prize for world civilisation

International law firm Withers congratulates Dr Lui Che Woo, chairman of K. Wah Group, on the creation of the LUI Che Woo Prize – prize for world civilisation.

The LUI Che Woo Prize – prize for world civilisation is an international award totaling HK$60 million (around US$7.75 million) in Prize money to honour achievements which make the world a better and more sustainable place.

Founded by Dr. LUI Che Woo, a distinguished self-made entrepreneur, the prize marks a sizable step in a lifelong mission to contribute good work and benevolence in society.

The LUI Che Woo Prize will recognise and honour achievements made by outstanding individuals or organisations. The laureate in each prize category will be presented with a cash award of HK$20 million (around US$2.56 million), a certificate and a trophy in the second half of 2016.

Withers' Hong Kong and UK trust and charity teams have advised Dr. Lui on establishing the prize-giving organisation and on the logistics of the judging process. This has included setting up a charitable foundation in Hong Kong to administer the prize, as well as providing strategic assistance on fundamental issues such as the governance, prize terms and conditions and procedural rules of the prize-giving process, and funding.

Withers' consultant Michelle Chow comments, 'Dr. Lui has shared very moving stories with me of his war experiences and poverty. He has a clear vision and passion to promote social harmony and reduce conflict. Today, his generous donation to set up the LUI Che Woo Prize clearly demonstrates his determination to safeguard tradition and moral values worldwide. It has been my greatest privilege to work closely with Dr. Lui for the past few years. Most of all, I deeply treasure the life lessons he has taught me.'

Withers' charities team partner Chris Priestley adds, 'It has been a great honour to be involved in a project with such high ideals. Our role has drawn on the international reach of the Charities team, as well as our expertise in working on global charity projects. We have advised on the best methods for setting up a huge endeavour like this and for putting governance measures in place to ensure that it adheres to the most rigorous and transparent judging procedures.'

The Withers team was led by Hong Kong-based consultants Michelle Chow, Pearl Lam, London-based partner Chris Priestley, assisted by associate Elizabeth Melia and trainee Lawrence Li.