Gina Rinehart, World's Richest Woman, Awaits Decision In Court Battle With Her Kids Over Money

Lawyers for Asia's richest woman and three of her children held preliminary arguments on Wednesday over who should control a $4 billion trust, a bitter family feud that has captivated Australia.

Justice Paul Brereton of the New South Wales Supreme Court reserved a decision on whether the case against mining magnate Gina Rinehart should be thrown out of court or argued fully. A decision is not expected for some days.

At stake is Rinehart's position as the sole trustee of the trust that holds a near-one-quarter share in Hancock Prospecting Pty Ltd, one of the world's largest privately-owned mining companies.

Lawyers for Rinehart and her daughter Ginia Rinehart, the only child to side with her mother in the feud, sought to have the suit brought by the three elder children to remove their mother as a trustee thrown out of court.

Hancock Prospecting is developing what would be Australia's fourth-largest iron ore mine and generates hundreds of millions of dollars a year in royalties from tenements secured by Gina Rinehart's father, Lang Hancock, a legendary figure in Australian mining history.


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Gina Rinehart, World's Richest Woman, Awaits Decision In Court Battle With Her Kids Over Money