Australia's Rinehart children cleared to sue billionaire mother


  • World
  • Wednesday, 22 Mar 2017

Australian mining heiress and Chairman of Hancock Prospecting group Gina Rinehart prepares to award medals to competitors at the Australian Synchronised Swimming Championships in Sydney, Australia, April 25, 2015. REUTERS/Jason Reed/File Photo

MELBOURNE (Reuters) - The children of mining billionaire Gina Rinehart, Australia's richest person, have been cleared by a court to sue their mother for what they describe as mismanagement of a multi-billion dollar family trust, in a long-running family feud.

Rinehart's daughter Bianca, who is now trustee of the family trust, said Hancock Prospecting Pty Ltd - the mining company set up by her grandfather, Lang Hancock, and run by her mother - did not pay A$500 million ($380 million) in dividends that she said were due to shareholders, one of which is the family trust.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Enhanced cultural exchanges urged between China, Bulgaria
Parents of US, Australian tourists presumed killed in Mexico to try identifying bodies
Brazil ex-president Bolsonaro hospitalized again with skin infection
Saudi Arabia posts 3.3-bln-USD deficit in Q1
Russian attacks on Kharkiv, surrounding area kill one, injure 17, officials say
Tanzania's southern highway shut down after 4 bridges washed away by flash floods
Feature: Gastronomy festival on Seine marks 60th anniversary of China-France ties
Key separatist commander among 3 killed in Cameroon's restive Anglophone region
Ukrainians in embattled east mark third Easter under fire
Death toll from southern Brazil rainfall rises to 78, many still missing

Others Also Read