Dozens of lawyers have filled a courtroom for the start of a legal showdown between descendants of mining pioneers Lang Hancock and Peter Wright over billions of dollars in iron ore royalties.
Descendants of two WA mining pioneers are gearing up for a legal battle more than a decade in the making over iron ore royalties believed to be worth billions of dollars.
A court has rejected Gina Rinehart and her company Hancock Prospecting's claims that giving her children access to certain documents would significantly prejudice the mining magnate.
Gina Rinehart's Hancock Prospecting has fallen short of last year's mega profit, posting a $5.8 billion bottom line for 2022 as it flags new growth and investment plans.
Perth dealmaker Michael Ashforth is making a return to investment banking, seven years after he retired from Macquarie Capital to work for ‘rich lister' Angela Bennett.
Financials lodged by Wright Prospecting have divulged another solid profit for the iron ore royalties outfit, as well as the receipt of a $75 million legal settlement.
Rio Tinto and Wright Prospecting have paved the way for development of a major new, high-grade iron ore mine that will be pivotal to the future of both companies.
Mining giant Rio Tinto paid more than $1 billion in royalties to four Perth families last year as a result of deals struck by their forebears in the 1960s.
Privately-owned Perth company Wright Prospecting has posted yet another extraordinarily large annual profit as it reaped the benefits of the booming iron ore market.
The Supreme Court has dismissed an application by Hancock Prospecting for a separate trial over ownership of lucrative iron ore tenements in the Pilbara.
Ian Cochrane, one of Perth's most respected corporate lawyers and company directors, has passed away. Aged just 67 years, Mr Cochrane had been battling cancer for nearly two years.
A claim by Julian Wright for one third of his family's multi-billion dollar fortune has failed, in large part because of a $70 million deal struck 13 years ago.
A low-profile WA family that has amassed a $300 million fortune from iron ore royalties has come to prominence by developing a head office in West Perth.
Wright Prospecting has continued to generate huge profits and dividends for its low-profile Perth owners while also revealing a board restructure after the retirement of chairman Ian Cochrane.
A 2008 agreement between Julian Wright's two children and family company Wright Prospecting precluded further claims, a Supreme Court trial has been told.
Julian Wright has commenced legal action in the Supreme Court, claiming he was defrauded when he sold his share of the family company to his siblings, 'rich listers' Angela Bennett and the late Michael Wright.
Perth-based Wright Prospecting has confirmed its status as one of the country's most profitable companies, lifting its annual earnings on the back of higher iron ore prices and paying a whopping $172 million dividend to its owners.
The descendants of iron ore pioneer Peter Wright have received total dividends of $702 million over the past three years, according to recently lodged financial statements that also reveal the big legal expenses they have paid.
A Supreme Court ruling has shed light on the multi-million dollar legal bills incurred by Gina Rinehart's Hancock Prospecting and Wright Prospecting in their long-running battle over ownership of the Rhodes Ridge iron ore deposit in the Pilbara.
The estate of the late Perth mining billionaire Michael Wright is fighting a court decision that awarded $25 million to his youngest daughter, Olivia Mead, arguing the $3 million he left her was enough.
Hancock Prospecting is poised to become Western Australia's biggest private company after a investment and acquisition spree in iron ore and agribusiness which is expected some time this year to push its revenue past that of the incumbent number one for the past 12 years, home builder BGC. A 2018 reranking appears certain following research for the Business News Private Companies list published today in a special report.
Private Perth company Wright Prospecting has bolstered its already impressive ranks with the recruitment of top lawyer Peter Wiese, who will guide it through continuing legal disputes with fellow Perth company Hancock Prospecting.
Energy giant Woodside Petroleum has bolstered its board with the appointment of a former Shell executive, while Dacian Gold has welcomed a prominent lawyer to its board.
Former corporate lawyer Ian Cochrane has joined the board of Ausdrill as deputy chairman, adding to a suite of board positions on the private companies of some of Perth's wealthiest families.
The billionaire Rinehart and Wright families have scored a multi-million dollar High Court win against mining giant Rio Tinto over iron ore royalties derived from the Pilbara.
The third daughter of late mining heir Michael Wright has succeeded in her bid to extract much more than she was left from his will, with a judge ruling she should get $25 million.
Some of Perth's top company directors and dealmakers, including Michael Smith, Ian Cochrane, Michael Ashforth and Tony Iannello have been recruited to help run prominent family companies.
Rio Tinto has boosted its global iron ore production to a record level during the June 2013 quarter, as it reviews new options to achieve its growth target at its Pilbara operations. Rio has also disclosed the high cost of a legal dispute with Gina Rinehart's company Hancock Prospecting.
