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litigation

May 28, 2015

Australia’s wealthiest woman, Gina Rinehart, has been order by the supreme court to pass control of the family trust to her daughter, ending a four-year feud with two of her children, and loosening her grip on the family firm.

Australia’s wealthiest woman, Gina Rinehart, has been order by the supreme court to pass control of the family trust to her daughter, ending a four-year feud with two of her children, and loosening her grip on the family firm.

The second-gen to a iron ore mining empire, Hancock Prospecting, Rinehart changed the vesting date of the multi-billion dollar Hope Margaret Hancock Trust in 2011 to 2068, just days before it was due to pay out.

August 5, 2013

Australian mining magnate Gina Rinehart has offered an olive branch to her two children that are taking civil court action against her regarding the management of the family wealth and controlling shares in the family business.

Australian mining magnate Gina Rinehart has offered an olive branch to her two children that are taking civil court action against her regarding the management of the family wealth and controlling shares in the family business.

In an open letter to siblings John Hancock and Bianca Rinehart, the businesswoman – who at an estimated net worth of AUS$22 billion (€14.7 billion) is the country’s richest woman – said she was willing to appoint a co-trustee to the family trust.

August 25, 2010

Families need to understand the risks to their business’s reputation and employ effective strategies to combat an increasingly litigious environment. Elizabeth Henson looks at how family businesses can protect their reputation.

Increasingly, family businesses are facing a rise in litigation and a greater propensity for them to be viewed as celebrities, open to attack from the mass media, unscrupulous advisers and other hostile parties. This is a real threat, and one that must be addressed if businesses are to be effectively passed down the generations.

Whilst a strategy for public relations and litigation are regarded as essential by most successful multinational corporate organisations, family businesses frequently neglect to establish similar functions for their own specific needs.

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