The Commonwealth Director of Public Prosecutions (CDPP) has withdrawn its charges against Peter Challis, the former Chief Executive Officer of WAW Credit Union Co-Operative Limited (CEO).
Following an ASIC investigation, Mr Challis was charged with one count of failing to discharge his duties in good faith in the best interests of a corporation (refer 18-309MR).
The withdrawal of charges occurred after Judge Leighfield of the County Court of Victoria found, in a pre-trial ruling, that Mr Challis did not have a relevant duty at law in the circumstances of this case.
In light of the ruling, the Crown filed a nolle prosequi and Mr Challis was discharged by the judge.
