The billionaires behind the Wright Prospecting empire have been granted a court order to pore over the documents of estranged family member Julian Wright amid revelations his legal battle for a slice of their fortune was bankrolled by a mystery backer.
On Wednesday, Supreme Court Justice Natalie Whitby granted the descendants of mining magnate Lang Hancock’s former business partner Peter Wright orders requiring Julian to hand over all documents relating to funding for his 2017 bid to claw back his one-third stake in the company.
Julian Wright, Angela Bennett, Alexandra Burt and Leonie Baldock. Iron ore descendants battle over billions. Picture: WAtodayCredit: WAtoday
In handing down the judgment, Whitby revealed Julian had filed sworn testimony declaring he had sought funding for his legal costs which he had secured to cover his trial in 2020.
But Julian had maintained the identity of the person bankrolling the pursuit and the terms of the arrangement were confidential.
Whitby ruled Wright Prospecting had strong prospects of successfully obtaining a costs order against the third-party and granted sweeping confidentiality orders over the documents produced, which will now only be seen by lawyers for the parties and the court.
Julian was also ordered to cover the costs of the application.
The ruling marks the latest twist in Julian’s unsuccessful seven-year claim against his late brother Michael and sister Angela Bennett, who he maintains duped him into parting with his portion of the family estate in a $6.82 million deal the trio signed in 1987.
In 2021, the Supreme Court found the pair breached their duties as executors by harbouring details about the breadth of their father’s mining interests to acquire Julian’s share at an “undervalue”.
But it dismissed the claim in its entirety after ruling Julian’s bid to regain access was prohibited under a $70 million agreement inked between Angela and Julian’s two children in 2008 — which is now at the centre of Wright Prospecting’s counterclaim.
Julian — dubbed the “black sheep” of the family — launched an appeal before taking the battle all the way to the High Court, fighting to wrestle back a shareholding now worth several billion dollars.
Wright Prospecting’s shareholders VOC Group and AMB Holdings – entities controlled by Angela and Michael’s daughters Alexandra Burt and Leonie Baldock – netted more than $260 million in dividends last financial year courtesy of lucrative royalty agreements it holds over the Pilbara.
But the lawsuit came to an end in August, when the High Court refused to grant him leave to appeal and ordered him to pay Wright Prospecting’s legal bill.
In submissions to the court earlier this month, Wright Prospecting’s lawyers told the court the company had doubts about Julian’s capacity to foot a costs bill now in the millions of dollars.
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