ACC 20013- Business & Law- Report Writing- Law Assignment- Swinburne University of Technology

Internal Code: MAS5392 Law Assignment Scenario: Dick Smith Holdings Limited (also known as Dick Smith, Dick Smith Electronics or DSE), until 2016, was a well- known brand for consumer electronics goods. The company was founded in Sydney in 1968 by Dick Smith and owned by him and his wife until they sold to Woolworths Limited in 1982. Private equity firm Anchorage Capital purchased the Dick Smith business from Woolworths for $115 million in November 2012, paying just $20 million upfront, and floated the company on the ASX with a market valuation of $520 million 12 months later1………… Question: Assume that you are a summer vacation intern at the Melbourne office of an international accounting firm and that along with some fellow interns you have been assigned to work on a group project to produce a report on Dick Smith Holdings Ltd for the period 2013-2016. The purpose of the report is to improve the knowledge of retail investors. Your group report should specifically address, but not be limited to, an examination of the following matters: (i) The prospectus for fundraising in 2013 (ii) The practice of manipulating sales figures & stock inventories and accounting policies thereof. (iii) Poor corporate governance arrangements and low transparency in financial reporting (iv) Appointment of administrator, receiver, and liquidator (v) Position of creditors re receivership and liquidation (vi) Directors’ duties – including insolvent trading and implications