Damian – whose father, businessman and film producer Steve Bing, died by suicide in June last year – will lose out on an expected £180m as a result of the ruling.
In March 2019, Steve’s father – billionaire Dr Peter Bing – went to court in an attempt to cut Damian and his half-sister Kira Kerkorian out of the grandchildren’s trust he had set up 40 years earlier.
Dr Peter Bing argued for their removal primarily on the basis that the two children, now aged 19 and 23 respectively, were born out of wedlock. Damian was born to Steve and Elizabeth Hurley, while Kira was born during Steve’s relationship with tennis player Lisa Bonder.
A judge later ruled that both grandchildren were entitled to part of the trust. However, Dr Peter Bing has since successfully appealed the ruling, meaning that Damian and Kira will no longer receive a share of the trust.
Criticising the decision, Hurley told The Daily Mail: “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.”
The model added that: “Stephen fought very hard in his last year to have his children recognised and repeatedly told me how incredibly important this was to him.
“He was happy beyond belief that the trial verdict ruled that Damian was to be treated like his sister’s children as far as the trust was concerned.”
The 56-year-old continued to say that she is “relieved” that “Stephen will never know that Damian’s relatives – Stephen’s father and the family of his sister Mary – were ultimately successful in their appeal against the original trial verdict”.
Lisa Bonder also spoke on the matter, telling the publication: “As a mum, I wonder why on earth this had to happen. Why make two innocent kids into victims?”
The trust, which has an approximate worth of £725m, is expected to be divided between the two children of Steve’s sister Mary Bing, both of whom were born in wedlock.
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