Mining magnate Gina Rinehart has made an offer in court to two of her children which she hopes might bring their litigation over a multi-billion-dollar family trust to an end.
Ms Rinehart's barrister David Russell QC told the Supreme Court in Sydney on Monday that they had written to legal representatives of her children John Hancock and Bianca Rinehart offering to appoint a co-trustee to the trust, which is at the centre of the bitter family dispute.
The offer was repeated in court, with Mr Russell saying that Ms Rinehart "would be willing to appoint a co-trustee" in the hope that the sibling's litigation against their mother would come to an end.
Mr Hancock and his sister, Bianca Rinehart, are seeking to oust their mining magnate mother as trustee, claiming she acted "deceitfully" and with "gross dishonesty" in her dealings with the trust, set up in 1988 by her father, Lang Hancock, with her children as the beneficiaries.
The pair was previously supported by their sister Hope Welker, but she withdrew from the case earlier this year.
Ms Rinehart is supported by her youngest daughter, Ginia.
Mr Hancock has been put forward as a proposed alternative trustee, along with Adelaide businessman Bruce Carter.
Justice Patricia Bergin described Ms Rinehart's offer as a "very big step", saying: "This litigation has been going for years."
However, Christopher Withers, representing Mr Hancock, told the court that while "it was a step" they would need time to consider.
During the hearing, Mr Withers put forward an application for the disclosure of a number of documents, including correspondence between Ms Rinehart and the consultancy firm PricewaterhouseCoopers (PwC) dating back to July 2010 - when she retained their services.
He argued the correspondence could possibly shed light on Ms Rinehart's state of mind when she wrote to her children in September 2011, saying that the vesting of the trust would render them liable for a substantial amount of capital gains tax and lead to their bankruptcy.
Mr Hancock and Bianca Rinehart have previously said Ms Rinehart contacted them in early September 2011, days before Ginia turned 25, when the trust was due to vest.
Mr Withers said access was needed to the PwC documents to determine what Ms Rinehart knew about the capital gains tax and when she knew it.
Mr Russell however argued that much of the documents were "irrelevant" and described the proposal as a "fishing exercise".
Justice Bergin said it seemed to her that Ms Rinehart was taking advice from PwC for an "extended period" and that the early correspondence between the two should be subject to disclosure.
The matter is set for a civil trial in October.
