Dick Smith: Execs To Be Grilled
Dick Smith receiver Ferrier Hodgson has won the right to publicly grill the former management of the failed consumer electronics retailer and former owner Anchorage Capital Partners, over their role in the company’s collapse earlier this year. Former Dick Smith CEO Nick Abboud is expected to be one of those questioned.
Ferrier Hodgson is believed to have obtained examination orders from the Australian Securities and Investments Commission.
Anchorage was to have been called before a Senate inquiry into the causes and consequences of this collapse and other matters, but that inquiry was shelved when the July 2 election was called.
Dick Smith collapsed in January, owing about $400 million, including $140 million owed to the NAB and HSBC banks.