A battle for billions likened to popular TV show
The battle for billions between Australia's richest and fourth richest people has been likened to the TV show Succession, and the battle between Gina Rinehart and Angela Bennett could be the most expensive family feud in the nation's history.
"This really is like an episode of Succession. You've got people fighting over billions of dollars," Justin Quill from major law firm Thomson Geer told A Current Affair.
"I'm not sure if it's the most expensive legal case in Australia's history, but if it's not, it must be close."
Gina Rinehart and Angela Bennett. (A Current Affair)HBO's Succession. (A Current Affair)Related Clips
READ MORE: Caravan park residents suddenly evicted with two weeks' notice
A handshake deal in 1938 between mining pioneers Lang Hancock and Peter Wright delivered unimaginable wealth to their daughters Rinehart and Bennett.
But now the two women are battling it out for the rights and royalties of the Hope Downs Iron Ore mine site in Western Australia, with their reputations, legacies and billions of dollars at stake.
"This is absolutely the battle of the rich list … with a combined wealth well in excess of $50 or $60 billion," Michael Bailey from the Australian Financial Review said.
Justin Quill from major law firm Thomson Geer. (A Current Affair)A handshake deal in 1938 between mining pioneers Lang Hancock and Peter Wright delivered unimaginable wealth. (A Current Affair)READ MORE: Centrelink put to the test as call wait times blowout
If Bennett wins the court battle, a $5 billion pot and future billions would flow to her and her nieces Leonie Baldock and Alexandra Burt.
But if Rinehart wins, she faces even more pressure from her estranged children, Bianca and John Hancock.
They're coming for half the mine's wealth in the Hope Downs operations.
Michael Bailey from the Australian Financial Review. (A Current Affair)Hope Downs in Western Australia. (A Current Affair)READ MORE: 'Things are escalating': Dingo attack sparks culling debate
The family of late Pilbara trucker and prospector Don Rhodes also wants a slice of the action, chasing a 1.25 per cent share.
The battle doesn't come cheap, either. According to Quill, there are 20 barristers involved.
"I would be very surprised if we were talking less than $25 million, probably more like $30 or even $35 million," Quill said.
The trial is expected to run for four months at Perth's David Malcolm Justice Centre.
