Mike Smith’s $15m house sale to Chinese buyer derailed in Asia strategy fail

  • The Toorak mansion of former ANZ boss Mike Smith is back on the market after a Chinese buyer failed to complete the purchase for a reported $15 million.

Mr Smith declined to comment on the price tag of the house that went on the market in February, but confirmed he was looking for a new buyer.



Former ANZ CEO Mike Smith says: “A lot of Chinese nationals are used to dealing with China on their own terms. And they therefore seem to think that Australian law is as flexible as it may be in China. Well, it is not – and they have to understand that.” Photo: Chris Hopkins

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