Sons of Hong Kong's late businessman Henry Fok Ying-tung, who were involved in a legal battle over Henry Fok's multi-billion U.S.-dollar estate, reached an out-of-court settlement on Friday afternoon after days of talks.

Benjamin Fok Chun-yue, one of Fok's sons who lodged the lawsuit in the High Court, told reporters that he was happy with the result. But the Foks did not give any detail of the agreement.

In December 2011, Benjamin Fok lodged the lawsuit, aiming to seek to remove his brother Ian Fok Chun-wan, and elderly aunt Fok Mo-kan as executors of the estate after accusing his brother of taking assets without the knowledge or consent of other executors.

In April this year, Benjamin Fok took legal action against another elder brother Timothy Fok Tsun-ting and claimed his brother was holding without permission a book in which their late father recorded his assets.

Henry Fok Ying-tung, who was also formerly vice chairman of the National Committee of the Chinese People's Political Consultative Conference, the country's top political advisory body, died from cancer in 2006 at 83. He married three times and had 13 children.

In 2006, Forbes ranked Fok the 181st wealthiest person in the world with an estimated wealth of 3.7 billion U.S. dollars. It ranked his descendants collectively in ninth place in a list of Hong Kong's 40 richest in 2008, with 4.5 billion U.S. dollars.

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