Australian iron ore magnate Gina Rinehart, is allegedly
locked in a legal battle over the family trust that has now divided her offspring,
according to Australian media reports.

Asia’s wealthiest woman, estimated to be worth $17.1 billion, is
reportedly being sued by three of her children, Hope, Bianca and John. They want to
have her removed as head of the family’s multi-billion dollar trust amid
allegations of serious misconduct.

The three children alleged she tried to deceive them by changing the vesting date on the family trust to 2068
– by which time the oldest child would be 92.

They want one of them to be installed
instead of her as head of the trust, which owns a quarter of her company,
Hancock Prospecting.

Rinehart’s youngest daughter Ginia has sided with her mother over the proceedings, contrary to emails printed in Australian media which show her initially supporting her siblings. 

Gina Rinehart tried to keep details of the
feud secret, but on Friday, the High Court refused her special leave of appeal
against the discharging of suppression orders over the case. The legal action
was launched last September in response to Rinehart’s reported attempt to take
control of the family assets.

Rinehart has also reportedly been accused of giving
her eldest daughter Bianca the chance to name her price, offering quarterly
payments in exchange for dropping the legal action.