Paula Pratt launches legal battle to be installed on Pratt family trust
The love child of late billionaire Richard Pratt has launched a bold bid to be included on a trust fund run by his family, whose wealth is estimated to top $24 billion.
NSW
Don't miss out on the headlines from NSW. Followed categories will be added to My News.
The love child of deceased billionaire Richard Pratt has launched a bold bid to be included on a trust fund run by his family, whose wealth is estimated to top $24 billion.
Paula Pratt, the 26-year-old daughter of Pratt and his one-time mistress Shari-Lea Hitchcock, has asked the NSW Supreme Court to make an order installing her on the Pratt Family Holdings Trust, to a position where she could receive a benefit.
But there’s a catch.
If she is successful and wants to receive a windfall from the trust, Paula will need the approval of Pratt’s widow Jeanne, with whom she faced off against in a court battle over inheritance after her father’s death.
However, legal sources said Paula’s case could be part of a long-term play to get some sort of influence over the trust.
It is not known what assets the trust holds, but Paula — who was to inherit shares and property worth tens of millions following a 2015 court settlement — has also asked the court to grant her access to its financial information, bank statements and trust deeds.
Paula launched the case on May 19 2022, by lodging a statement of claim.
Multiple hearing dates have been vacated and the case is set down for a legal argument next month, which will dictate the next direction the matter takes.
Pratt’s widow Jeanne is in charge of making the calls on the trust, given she is the sole shareholder of the company that acts as its trustee.
Born in 1997, Paula’s existence was revealed in 2000 when one of Pratt’s lawyers accidentally told a journalist that hush money had been paid to a nanny employed to look after her.
Until that time, Paula’s birth had been kept secret to protect Jeanne and the Pratts’ three adult children Anthony, Heloise Waislitz and Fiona Geminder.
His death in 2009 set off a lengthy legal battle between Shari-Lea, Paula and the Pratt family.
In 2010, Shari-Lea took legal action claiming she and her daughter were not adequately provided for in the will.
Pratt’s will later revealed he left Paula $22.8 million in shares and part of a second pool of shares worth $5.7 million, which was controlled by a trust fund.
The court this week rejected an application by The Saturday Telegraph to view Paula’s claim and the Pratt family’s defence.
Paula could not be reached for comment at her eastern suburbs home yesterday.
Shari-Lea Hitchcock said: “Absolutely no comment”.
Paula’s lawyer also did not return calls.
Attempts to reach Jeanne or her children via email were also unsuccessful.
Got a news tip? Email weekendtele@news.com.au
Originally published as Paula Pratt launches legal battle to be installed on Pratt family trust
Join the conversation
Blame the lawyers: ABC’s finding on dodgy war crimes story
A final report into how the ABC added gunshots to footage of a helicopter mission in Afghanistan has found the broadcaster’s legal team failed to pass on a letter alerting them to the problem.
Read more
‘Afraid to go outside at night’: Youth crime worst it’s ever been
Just days after a Kingswood pizza shop owner was stabbed to death by a gang of youths, business owners in neighbouring stores say coming to work has become a daunting task.
Read more