Liz Hurley has been left fuming after finding out her son Damian has been ‘cut out’ from his share of £180million in trust funds.
The multi-million fortune is from his grandfather, but Damian has been skipped from receiving anything, with the money being split between his cousins.
A year ago, Liz’s former lover Steve Bing tragically killed himself.
He hadn’t formed a full relationship with his son Damian throughout the teen’s life but weeks before his death he tried to begin the steps in changing that.
Trying to establish a father-son bond, the multi-millionaire businessman called him for the first time on his 18th birthday.
(Image: Damian Hurley/Instagram)
Before he died, Bing had won a court battle overturning his own father’s attempt to exclude Damian and older half-sister Kira from family trust funds, believed to be worth up to a billion dollars (£725million).
The MailOnline reports that Damian won’t receive a penny after his grandfather succeeded in appealing the decision.
Instead, the fortune will be split between the two children of Steve’s sister Mary.
(Image: WireImage for BWR Public Relations)
The teenager has been deprived of his share which could have reached around £180million ($250m).
Liz, who hasn’t often spoken publicly about Bing’s family is appalled by the “callous” treatment and said Damian’s dad would have been “devastated” if he had known.
She told the paper: “When Stephen took his own life, he died thinking his children were going to be taken care of.
“What Stephen wanted has now been callously reversed. I know Stephen would have been devastated.”
(Image: Instagram)
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Kira’s mother, Lisa Bonder, has also been left fuming about the decision. She added: “As a mum, I wonder why on earth this had to happen. Why make two innocent kids into victims?”
Bing had refused to publicly acknowledge 19-year-old Damian as his child, or Kira, 23. While Liz was pregnant, he made a will ensuring neither would inherit anything.
But in his final years, he attempted to build bridges, however, in 2019 his father – Dr Peter Bing – went to court to cut Damian and Kira out of the ‘grandchildren trusts’.
(Image: Internet Unknown)
The trusts had been set up almost 40 years earlier, and the two children were cut out on the basis they were born out of wedlock.
Liz and Lisa contested his application and a few months later a judge ruled that their children were entitled to a share of the fortune, tragically, that decision has now been appealed.
Now, a judge has ruled the trust could be distributed how Dr Bing sees fit.
The billionaire’s fortune descends from his developer grandfather Leo’s property empire constructed in the early 1920s. Steve inherited around $600m (£460m) when he was 18.
Steve Bing fell to his death from the balcony of his apartment in LA last June.
For emotional support, you can call the Samaritans 24-hour helpline on 116 123, email jo@samaritans.org, visit a Samaritans branch in person or go to the Samaritans website.
Source: Celebrities - dailystar.co.uk
