Deal for Ansett children ends acrimony

THE revolt of the Ansett children against the last wishes of their father, aviation tycoon Reginald Ansett, has succeeded with three winning more than $1 million each from his estate.

The final chapter in the saga of the Ansett family dynasty was resolved behind closed doors after three of the aviator’s five children launched legal challenges to Sir Reginald’s will, claiming it was grossly unfair.

The Ansett Australia founder, who died of cancer in 1981, aged 72, left a will that gave most of his fortune to race clubs, schools and charities, leaving only a fraction to his children in the belief that they should make their own way in life as he did.

John Ansett has told The Australian he and his two half-sisters, Jane and Jill, reached a confidential mediated settlement last year with Equity Trustees, which administers the estate.

“I am very happy that this is all over now, although I am sure my father would not be happy,” he said.

“This . . . allows me to put my father in the background now. He has been hanging over my head for all my life.

“The Ansett name and my relationship with him has been like carrying a heavy stone around my neck.”

The Ansett children did not openly question the fairness of their father’s will until Sir Reginald’s second wife, Joan, died in 2003. But when Joan lied to her daughter, Janet, about a key aspect of the estate shortly before her death, it sparked a chain of events that led the Ansett children to explore legal challenges to the will.

When Sir Reginald died, his estate in Mount Eliza on Melbourne’s Mornington Peninsula was worth $8.2 million but he left only $50,000 to each of his children.

The estate is now believed to be worth more than $50 million.

The issue has been further complicated by the dysfunctional nature of the Ansett family, which became divided when Sir Reginald married Joan.

She tried to cut Sir Reginald’s two sons from his first marriage, John and former Budget hire car entrepreneur Bob, from the family and she kept them away from their three adopted daughters, Jane, Jill and Janet.

The two halves of the family have been reunited only in recent years.

A spokesman for Equity Trustees declined to comment on the size of the mediated settlement.

John Ansett declined to reveal the amount that he and his two half-sisters received, but it is believed to be worth more than $1m each.

Bob Ansett withdrew from the legal bid before mediation and did not receive a payout.

However, the victory of the three Ansett siblings was bittersweet for the third Ansett daughter, Janet, who reached a far smaller out-of-court settlement with the trustees in 2004. “I am very happy that they were all successful and that it is all finally over,’ she said.

“I have made friendships out of all this because I have met my half-brothers now and that has been a wonderful experience.”

Source; The Wall Street Journal