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Receivers launch legal action against Dick Smith directors, executives

The receivers of collapsed electronics chain Dick Smith have launched legal action against eight directors and executives, including ex-CEO Nick Abboud for alleged breaches of their duty to exercise reasonable care.

Ferrier Hodgson, on behalf of Dick Smith Holdings, is seeking to recover amounts equal to Dick Smith's 2015 interim and final dividends, and losses from the management of inventory, in a claim lodged in the Supreme Court of NSW late on Friday.

National Australia Bank and HSBC have also brought claims against Mr Abboud and former chief financial officer Michael Potts.

More to come...

AAP

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