Bianca Hope Rinehart, one of three children of Gina Rinehart who are suing their mother, has been removed from the board of Hancock Prospecting. The Australian mining company was founded by Gina Rinehart’s father, Lang Hancock. Bianca had been viewed as the future leader of the family business.
The
Sydney Morning Herald
reported
that Bianca was removed from the board on Oct. 31; a backdated notice was filed with the Australian Securities and Investments Commission on Jan. 27.
Bianca and two of her siblings, John Hancock and Hope Welker, have filed suit in the New South Wales Supreme Court to remove their mother as head of a trust set up by Lang Hancock for his four grandchildren, according to the report. Matriarch Gina Rinehart is Australia’s richest woman.
A report in
The Australian
noted that John Hancock changed his name after a dispute with his mother. He had also been groomed to take over the family firm, according to
The Australian.
The only one of the four siblings not involved in the lawsuit, Ginia Rinehart, was added to the Hancock Prospecting board on Dec. 5, the
Sydney Morning Herald
article said.
The Australian reported that Hope Welker and her husband had moved out of a $5.4 million Sydney mansion that was owned by a Rinehart family company, 150 Investments. Welker was removed from the board of 150 Investments in October, according to the report. (Sources:
Sydney Morning Herald,
Jan. 30, 2102;
The Australian,
Feb. 1, 2012.)
-
868 reads