For the record LTC distribution is actually worse than BTC. This address:
https://bitinfocharts.com/litecoin/address/3J5KeQSVBUEs3v2vEEkZDBtPLWqLTuZPuD holds 10.95% of all litecoins.
All coins that were launched in the early days have bad distribution because there were very few miners back then. In any system you are going to have some centralisation of wealth simply due to the early adopter effect.
Disclaimer: I do not hate litecoin.
What you're looking at is likely the cold wallet address of a chinese exchange. The 10.95% represents the holdings of thousands of individuals.
If you look here:
http://etherscan.io/accountsYou can see that two exchanges have 17% of all ETH between them as well.
Also some exchanges and large holders of any coin can have additional addresses and control even a larger percentage than block explorers indicate. As such the proof you offer doesn't necessarily indicate one person owns 10.95%.
It might indicate that far to many individuals put their faith in exchanges for storage of wealth.