Gina Rinehart’s son John Hancock has withdrawn his application to become head of a trust a the centre of a long-running legal battle.
According to ABC News, Hancock’s lawyers said he was bowing out of the race for “the sake of family harmony” and that he supports his sister Bianca taking the role.
Hancock and Bianca Rinehart have brought legal action against their mum, accusing her of acting inappropriately in her role as head of the trust by changing the date which it was due to vest without telling them.
Rinehart has offered to step down as head of the trust, and the legal drama is now about who will replace her.
Another Rinehart daughter Ginia — who has sided with her mum — has also objected to her sister Bianca taking over the trust, complicating negotiations further.
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