Peter Wright’s former accountant Doug Salt denies siblings told him to conceal information from iron ore heir Julian Wright

The former accountant who dealt with the business affairs of Peter Wright today denied he was ever instructed by two of the late iron ore pioneer’s children to “conceal” information from their outcast younger brother. Doug Salt, 81, has been a central figure in Julian Wright’s Supreme Court claim, in which he alleges his multi-billionaire sister Angela Bennett and late brother Michael Wright tricked him into selling his share of the family company after their father’s death in 1985. Julian alleges Mr Salt helped his elder brother and sister conceal “highly material” information regarding his father’s entitlements to iron ore royalties and Wright Prospecting’s mining interests before he sold his stake for $6.8 million in 1987. It is now worth billions. Called to give evidence by lawyers for Mrs Bennett and Michael Wright’s estate today, Mr Salt, who also worked for Lang Hancock, denied he was ever told by the warring siblings to keep information from Julian. “None of them ever asked me that,” he said. Mr Salt said he treated all three siblings with the “same approach”. “They were three siblings who owned shares in Wright Prospecting, so as far as I was concerned they all got the same respect,” he said. Mr Salt said he was on an “iron ore committee” set up by Michael Wright, which Julian alleges was kept secret from him, but Mr Salt said that was not the case. He said the group was formed because “none of us had any idea of what was going on with (the mining tenements)”. “We had no experience or expertise at all,” he said. Mr Salt also denied telling Julian the company’s mining tenements had “no value” and said the youngest iron ore heir had “full authority” to attend Wright Prospecting’s offices and access company records. “I never concealed anything from Julian at any time,” he said. Earlier, during his sixth day on the stand, Julian testified: “If I knew what Michael knew about the company ... I would not have sold.” Mr Wright denied he was “desperate” to sell, saying one of the reasons he did so was because “I wasn’t wanted in the company”. “I don’t think a company can function properly with a split board,” he said. “My medium term outlook on the company wasn’t very rosy (and) the fact that they were threatening to exercise the option. I think those are the three main reasons that I was willing to sell.” His father had placed an option over Julian’s shares before his death, and he previously told the court his siblings were threatening to exercise it, believing it would leave him a one-ninth shareholder, rather than a third. The trial continues.