“In the last three weeks, we offered the best price in the market to the other side to consider,” she said. “We tried very hard to protect the business that our grandfather Kam Shui-fai left to us.”

Yung Kee was founded by the senior Kam in 1938. He passed the business to his older son Kinsen Kam Kwan-sing and younger son Ronald, intending for them to operate the business together.

But in 2010, due to a dispute between the two, Kinsen Kam, who held 45 per cent of the restaurant’s holding company, Yung Kee Holdings Limited, asked the court to wind up the company.

The legal battle between the two brothers remained unresolved even after Kinsen Kam died in September 2012.

READ MORE: Yung Kee family feud: Iconic roast goose restaurant’s future uncertain as struggles to reach deal continues

His widow Leung Sui-kwan brought the case to the top court this year, where the Court of Final Appeal ruled for the company to be wound up in November.

The judges allowed some time for the two families to negotiate a price for one side to buy up the shares from the other. The deadline was extended until yesterday.

Yvonne Kam said they had assigned two accountants and made three proposals for the other side to consider. She said the other side wanted HK$1.3 billion but their proposals suggested a best price of HK$1.2 billion.

She claimed the other family had insisted on an amount that was beyond their ability to afford. She tried to get a stay of the order last night but was refused by Chief Justice Geoffrey Ma Tao-li.

“ I know the chance to stay the order was slim, and we filed it at the last minute,” she said.

“But now, I think I have to learn to accept the company will have to be wound up,” she added with tears in her eyes.

Following the commencement of the winding-up order, an official receiver will be appointed as the liquidator and will take over control of the company including its assets and accounting records, and look into the company’s affairs.

Yvonne Kam and her younger brother said they would go to the official receiver’s office today to see what procedures they had to complete. She said at this stage she still had no idea whether the business would eventually go to people outside the family.

Yung Kee restaurant was only one of the businesses under the holding company.

The company’s assets also included the restaurant’s premises in Wellington Street.

Yvonne Kam Kiu-yan, the daughter of the younger brother Ronald Kam Kwan-lai, said the business of the restaurant would not be affected as the restaurant was operated by a subsidiary company but not the company that was ordered to be wound up by court.

However, she claimed she really had no idea what would happen to the over 70 years family business following the order came into effect.

“In the last three weeks, we offered the best price in the market to the other side to consider. We have done all we could do with lots of sincerity. We really try very hard to protect the business that our grandfather Kam Shui-fai has left to us,” she said.

Yung Kee was founded by Kam Shui-fai in 1938 and was always run by the Kam’s family. The senior Kam passed the business to his two sons Kinsen Kam Kwan-sing and his younger son Ronald Kam and wanted them to operate the business together.

However, the two brothers were in dispute in 2010 that Kinsen Kam, who held 45 per cent of the restaurant’s holding company Yung Kee Company Limited, asked the court to wind up the company.

The legal battle between the two brothers remained unresolved even after Kinsen Kam passed away in September 2012. His widow Leung Sui-kwan brought the case to the top court this year where the Court of Final Appeal ruled the holding company to be wound up in November this year.

But the judges allowed the two families to negotiate a price for one side to buy up the shares from the other. They extended the deadline of the winding up order until yesterday.

READ MORE: End of a Hong Kong-style roast goose saga as court allows family restaurant to be wound up

Yvonne Kam said they had assigned two accountants and made three proposals for the other side to consider. She said the other side was asking for HK$1.3 billion but their proposals suggested the best price of HK$1.2 billion.

She claimed the other side insisted the amount that was beyond their ability to afford. She tried her lost bid to apply for stay of the order from the top court late evening last night but was refused by Chief Justice Geoffrey Ma Tao-li.

“We really have no more way to do. I know the chance to stay the order was slim and we filed it until the last minutes. But I always had a hope that the other side would not walk to this step,” she said.

“But now, I think I have to learn to accept the company will have to be wound up,” she said with tears in her eyes.

Following the commencement of the winding up order, an official receiver will be appointed as the liquidator and will take over control of the company including its assets and accounting records and investigate the company’s affairs.

Yvonne Kam and her younger brother said they would go to the official receiver’s office today to see what the procedure they had to do.

She said at this stage she still had no idea whether the business would eventually fall to people other than their family.

Yung Kee restaurant was only one of the business under the holding company. The company’s assets also included the restaurant’s premises in Wellington Street.