Australia's Rinehart ends bitter trust feud with children
SYDNEY (AFP) - Australia's richest person Gina Rinehart on Tuesday said she plans to relinquish control of a multi-billion dollar family trust, ending a long-running and bitter feud with two of her children.
The mining mogul's lawyers told a Supreme Court directions hearing in Sydney that her decision meant the two-year dispute was "effectively over", the Sydney Morning Herald reported.
Two of Rinehart's four children - John Hancock and Bianca Rinehart - have been embroiled in a court case to have her removed as head of the trust which was established by their grandfather, the late Lang Hancock.
They allege their mother acted "deceitfully" and with "gross dishonesty".