Former National Transport Insurance director Trevor Smith will stand trial on charges brought by ASIC over alleged misconduct during his reign as director. He faces 12 counts of knowingly and dishonestly making improper use of his position while he was a director of the company.

ASIC alleges Mr Smith improperly used his position as a director in order to facilitate $5.8 million of loans to other companies including Noble House Development Corporation and Fenning Timbers Australia.