The daughter and former mistress of late paper and packaging magnate Richard Pratt are set to contest Pratt’s will in the NSW Supreme Court, a year after Pratt’s death.
According to a report in The Age, Shari-Lea Hitchcock, and the couple’s 12-year-old daughter Paula, launched proceedings in the Surpreme Court on April 27 to contest the will.
The matter was mentioned in court yesterday, although neither Hitchcock or her daughter appeared at the hearing.
Hitchock’s lawyer said a summons has yet to be served on Richard Pratt’s widow, Jeanne.
The matter was adjourned until July, according to The Age.
A spokesman for the Pratt family told SmartCompany this morning that the family would not be commenting.
Richard Pratt was seen as having one of the most clear and well-articultated succesion plans in place after his death.
Pratt’s son Anthony assumed the role of leader of the $4 billion Visy empire, which was then split between Jeanne and his three oldest children.
Pratt Industries USA went to Anthony. The family investment vehicle, Thorney Holdings, went to daughter Heloise and her husband, Alex Waislitz. Visy Industrial Packaging (now known as Pact Group) was taken over by daughter Fiona and her husband, Raphael Geminder. Each business was managed by its owners in the years before Pratt’s death.
Visy’s $3 billion Australian manufacturing group, which comprises the Visy Board, Visy Paper and Visy Recycling businesses, will be owned in equal share by Jeanne and Pratt’s oldest children.
Pratt’s youngest daughter Paula was believed to have a Sydney mansion held in trust for her and was expected to receive a large cash payment in 2016, when she turns 18.
Reports earlier this year suggested Paula would also receive more than $22 million.
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
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