ACCC chief leaves Axa decision to others
Graeme Samuel, chair of the Australian Competition and Consumer Commission, yesterday said he would not participate any further in the commission's decisions over National Australia Bank's bid for Axa Asia Pacific.NAB is one of several lenders to Austexx, the holding company for the owners and developers of the DFO discount retail mall chain and which is on the verge of receivership. The developer owes around $450 million.Samuel's choice appears to be one of managing a perceived rather than an actual conflict. His assets, including the investment in DFO's owners, are held through a blind trust.However, he's given newspaper interviews indicating an awareness of the issues facing DFO and has recently hired a new lawyer to represent his interests.