Two daughters of a wealthy banker, who died in 2017, have lost a second court case with their stepmother over their father’s £7m estate.

Lawyers for Juliet Miles, 40, and Lauretta Shearer, 38, told the High Court last week that judge Sir Julian Flaux was “perverse” to throw out the case against their stepmother, Pamela Shearer, who had been left in almost total control of the estate of their father, Tony Shearer; a former director of merchant bank Singer & Friedlander and finance governor of Rugby School.

Earlier this year, the sisters lost an initial High Court fight against their stepmother after demanding “maintenance” from their dead father’s estate to replace the “generous financial provision” they had formerly received.

At the time, Pamela Shearer, 68, who married Mr Shearer in 2007, insisted the daughters were due nothing and added that they were both “entitled” and “interested in their father only for his money”.

Last week, however, the sisters took their case back to court. Part of their claim was based on a suspicion that their stepmother had altered her “mirror” will after their father’s death, contrary to his wishes, to exclude them or their children from any future inheritance after her own death.

Pamela told the judge she had “not revoked” any provision which Mr Shearer may have made for his extended family.

Rejecting the daughters’ request to take the case to the Court of Appeal, Sir Julian said: “Pamela gave evidence that she had not altered her will and that she would respect Tony’s wishes… Tony had made it clear they should have no expectation of inheritance.”

“It cannot be said that my value judgement was plainly wrong and this proposed appeal has no prospect of success.”

If the daughters want to continue their legal battle they will now have to apply directly to the Court of Appeal.