Home > Industry > NAB & HSBC Go After Former Dick Smith CEO, None Executive Directors Deny Any Wrongdoing

NAB & HSBC Go After Former Dick Smith CEO, None Executive Directors Deny Any Wrongdoing

Dick Smith Bankers, NAB and HSBC have moved to commence separate proceedings against Dick Smith’s executive directors, Nick Abboud and Michael Potts in the NSW Supreme Court.

It’s also emerged that information may have been kept from none executive directors, Robert Murray, Jamie Tomlinson, Lorna Raine and Robert Ishak.

Lawyers acting for these directors have told ChannelNews that these directors acted at all times conscientiously and with care and diligence in undertaking their duties as non-executive directors of Dick Smith.

They strongly deny as initially indicated in our earlier story that they were involved in any wrongdoing and will vigorously defend these proceedings.

Robert Murray, Jamie Tomlinson, Lorna Raine and Robert Ishak were non-executive directors of Dick Smith at various times between 2013 and January 2016.

Recently Dick Smith’s receivers commenced legal proceedings in the Supreme Court of NSW against all of Dick Smith’s current and former executive and non-executive directors.

In broad terms, the receivers claim that the non-executive directors breached their duty of care to Dick Smith by failing to put in place adequate systems in relation to rebates and inventory management.

At this stage the none executive directors claim that they are unable to say anything more about the matters that are the subject of the latest Dick Smith litigation.