The Commonwealth Director of Public Prosecutions (CDPP) has withdrawn its charges against Peter Challis, the former Chief Executive Officer of WAW Credit Union Co-Operative Limited (CEO).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.

Background

A nolle prosequi is a formal notice by the prosecutor to the judge that they will no longer prosecute.