WA Billionaire's 'Secret' Daughter Has $25m Payout Slashed
An appeal against a $25 million payout to the ‘secret’ daughter of the late Perth mining billionaire Michael Wright has resulted in the award being slashed to $6.1 million.
In February 2015, Olivia Mead, then 19-year-old, contested her late father’s will, which would have bequeathed her $3 million when she turned 30.
She was then awarded $25 million from the “colossal” estate after Master Craig Sanderson ruled not enough provision had been made for
On Wednesday, however, the judges upheld the appeal and unanimously set aside the $25 million, instead awarding $6.14 million.
During the appeal, the estate took aim at the now 22-year-old's extravagant wishlist, which was submitted to estimate her future needs, including a $2.5 million home, a $1.6 million
She also sought an Audi, money for the upkeep of four children she plans to have - each two years apart - and thousands of dollars a year to care for four pets including an axolotl or "Mexican walking fish".
Jane Needham, representing estate executor David Lemon, cited
The judges said the original will did not make adequate provision for
There were also no competing claimants, he said, and the court could "go that extra bit further, and add some cheese and jam" rather than just the essentials of life.
AAP with Fairfax