Lutheran Church – Missouri Synod says school it co-founded in 1966 has amassed more than HK$2.8 billion in reserves
A United States-based church is suing the management of a top Hong Kong school it co-founded in 1966 for allegedly breaching an operational agreement, accusing the institution of serving only the “rich and privileged few” and amassing excessive financial reserves.
The Lutheran Church – Missouri Synod (LCMS), which is the registered owner of the Hong Kong International School’s (HKIS) campus in Repulse Bay, told the institution to rectify its numerous breaches or face eviction from the property and another campus.
But the school’s operator, Hong Kong International School Association Limited (HKISAL), has rejected the allegations, dismissing them as “unfounded and disingenuous”.
On Wednesday, the church said that if the school management, which it accused of accumulating reserves of more than HK$2.8 billion (US$359 million), failed to comply with its demands, it would create a new private primary institution.
