Reg Grundy’s daughter seeks access to documents about the TV mogul’s mental capacity before his death
REG Grundy’s estranged daughter claims the media mogul was suffering from Alzheimer’s disease when making arrangements to bequeath his massive fortune, which she believes is worth more than $900 million.
NSW
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REG Grundy’s estranged daughter claims the media mogul was suffering from Alzheimer’s disease when making arrangements to bequeath his massive fortune.
Kim Robin Grundy, now known as Viola La Valette, appeared in the NSW Supreme Court yesterday, seeking access to documents about her father’s mental capacity and the extent of his wealth before his death in 2016.
Ms La Valette is contesting his will and has been fighting his widow Joy Chambers-Grundy, who inherited his estate, believed by his daughter to be worth more than $900 million.
Her barrister Michael Meek SC said Mr Grundy, creator of TV game shows Wheel Of Fortune and The Price Is Right, owned a stack of offshore companies registered in Bermuda, Antigua, the British Virgin Islands and the United States.
He said the couple also owned Cantilever, a Bermuda-based entity listed in the Paradise Papers — the largest leak in history into the tax haven industry.
Mr Meek said the pioneering tycoon suffered “Alzheimer’s disease and cognitive impairment” before he died.
“Six weeks prior to the deceased’s death there was a settlement in which the entire proceeds of that trust was given to (the wife),” he said. “It was set up to fund the provisions under the will. We were told that there were no assets anywhere in the world to fund the provisions under that will.”
Mr Meek said Ms La Valette, the daughter from his first marriage, and Mrs Chambers-Grundy, his second wife, attempted mediation in July but that’s now “dead and buried”.
Chris Harris SC, for Mrs Chambers-Grundy, a former Logie Award-winning actor, confirmed on Monday that her late husband’s overseas assets are worth $800 million.
He also claimed Mr Grundy’s NSW assets are worth an additional $71 million, but noted the daughter’s valuation is double that.
Mr Harris told the court it was possible Ms La Valette could seek to have the will declared invalid and substituted by a previous version that gives her “significantly greater benefits”.
Ms La Valette believes she has been left short-changed by her father and is seeking tens of millions of dollars in addition to an existing $250,000 annuity.
She cut off all contact with Mr Grundy 22 years before his death, but the heartbroken dad continued to give her money.
The exact value of the intensely private titan’s fortune has been hotly contested in the lawsuit, with Mrs Chambers-Grundy making concessions only following subpoenas from her stepdaughter.
The former actor and model claimed her husband died without any assets but during February proceedings she conceded he had a net value of about $214 million.
The dispute returns to court on August 19. A former sports broadcaster, Grundy reinvented himself as a TV game show host and then created a global TV production empire, with multiple hit shows including Neighbours and Prisoner.
Editor’s Note: Readers should not have inferred from the reference to the Paradise Papers in this article (which was not referred to in the court hearing) that Reg Grundy and his wife, Joy Chambers-Grundy, were engaged in tax avoidance or tax evasion. The Grundys made Bermuda their home. The Daily Telegraph has apologised to Mrs Chambers-Grundy.