Thursday, October 3, 2013
As I have previously discussed, the legal battle between billionaires Gina Rinehart and her three eldest children continues. Recently, Gina's children secured funds from wealthy associates to pay their legal bills down and keep their case alive after depleting $300,000 of their own money. The children hope to remove their mother as trustee of the four billion dollar family trust set up by Gina's late father Lang Hancock. Since the legal proceedings, the children have been financially cut off from the trust benefits.
Now Rinehart's youngest has missed a bid attempt to have the dispute kept private through arbitration. The Supreme Court will hear the battle next week. Gina's lawyers are appealing to the decision made by the Supreme Court last month that dismissed their attempts to have an arbitration.
See Lauren Farrow, Rinehart Trust Battle to be Heard Publicly, Brisbane Times, Oct. 3, 2013.