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A Royal Commission into industry scandals
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Places Victoria chair steps aside

02 Oct 2012

By Georgina Scambler

Places Victoria chairman Peter Clarke has stood aside, pending an Australian Securities and Investment Commission (ASIC) prosecution.

ASIC alleges improper conduct by Mr Clarke and four other former directors of Australian Property Custody Holdings Ltd (APCH).

ASIC claims the APCH directors breached their duties to Prime Trust members when they approved a $33 million payment to managing director Bill Lewski.

APCH and Prime Trust were placed into liquidation in November 2011. ASIC is seeking to disqualify Mr Clarke and the other directors from managing corporations.

Places Victoria has appointed its deputy chairman Ken Fehily as acting chairman.

Places Victoria and Planning Minister Matthew Guy declined to comment on the investigation. Mr Clarke is legally prevented from commenting on the case but is contesting the charges.

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