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Posted by admin on 2019-06-15 in 上海性息 with No Comments


Billionaire mining magnate Gina Rinehart is seeking to have a bitter dispute surrounding a family trust fund referred to arbitration.

上海性息

The battle between Ms Rinehart and two of her children, John Hancock and Bianca Hope Rinehart, is due to play out over a seven day hearing in the Supreme Court next month.

But lawyers for Ms Rinehart on Wednesday applied for the proceedings to be stayed and referred to arbitration, saying fresh claims made by the children fall under the terms of the family trust fund deed.

It comes after the court heard the two children “substantially” changed their case against their mother, with a fresh claim that she changed the constitution of the family company, Hancock Prospecting Pty Limited (HPPL).

Christopher Withers, representing Mr Hancock, has claimed Ms Rinehart acted in breach of the trust when she made the change in 2006, which allegedly prevented the children from being able to take their shares.

Mr Withers said the changes meant the children couldn’t take their shares unless they had the financial means to pay the capital gains tax that would be incurred.

Justice Patricia Bergin noted it was “a new pleading, a new case”.

Mr Hancock and Bianca Rinehart claim their mother acted “deceitfully” and with “gross dishonesty” in her dealings with the trust, set up in 1988 by her father, Lang Hancock, with her children as the beneficiaries.

The pair was previously supported by their sister Hope Welker, but she withdrew from the case earlier this year.

Ms Rinehart, who is supported by her youngest daughter Ginia, has denied the claims.

Richard McHugh SC, representing Ginia Rinehart, said it was “unarguable” that the fresh allegations must be referred to arbitration, because they fall under the terms of the deed.

“The question is what does your honour do with the (current) proceedings?” Mr McHugh said.

“How does your honour justly adjudicate in circumstances where … half of these proceedings is over in arbitration?”

The hearing continues.

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