The Supreme Court of Western Australia has ordered Julian Wright to disclose his litigation funder and attend court, as the dispute over his stake in the family's mining empire continues.
Privately-owned Perth company Wright Prospecting has posted yet another extraordinarily large annual profit as it reaped the benefits of the booming iron ore market.
A claim by Julian Wright for one third of his family's multi-billion dollar fortune has failed, in large part because of a $70 million deal struck 13 years ago.
Wright Prospecting has continued to generate huge profits and dividends for its low-profile Perth owners while also revealing a board restructure after the retirement of chairman Ian Cochrane.
A 2008 agreement between Julian Wright's two children and family company Wright Prospecting precluded further claims, a Supreme Court trial has been told.
Julian Wright has commenced legal action in the Supreme Court, claiming he was defrauded when he sold his share of the family company to his siblings, 'rich listers' Angela Bennett and the late Michael Wright.
Litigation funder Hillcrest Litigation Services Ltd said today it was endeavouring to reach an agreement with client Julian Wright following the multi-million dollar settlement of the court case involving Mr Wright's family.
THE head of Perth-based resource information distributor Intierra says the upturn in the resources sector is starting to flow through to the local exploration industry.
