Former senior Liberals Michael Wooldridge and Peter Clarke breached duties over APCHL collapse Former Federal Health Minister Michael Wooldridge. FORMER Federal Health Minister Michael Wooldridge and Liberal Party stalwart Peter Clarke are a step closer to corporate oblivion after the Federal Court found they had breached their directors' duties over a collapsed retirement home empire. Mr Wooldridge, Mr Clarke - a former head of Victoria's Urban Renewal Auhority - along with William Lionel Lewski, Mark Frederick Butler and Kim Jaques are facing company bans after the court found they breached directors' duties when running Australian Property Custodian Holdings Ltd. APCHL, which collapsed in 2010 owing investors $550 million, ran retirement villages through subsidiary Prime Trust in Queensland, Victoria and NSW. Justice Bernard Murphy of the Federal Court found the men had not acted in the best interests of members and had breached the law after APCHL claiming a $33 million listing fee when it floated Prime Trust on the stock market. ASIC Commissioner Greg Tanzer said today's judgment was a reminder that responsible entities have to put the interests of their unit holders first. This is a significant outcome for investors. The conduct of the APCHL Board was unacceptable and today's judgment reflects that," Mr Tanzer said. ASIC wants the men banned from running companies. A penalty hearing will begin next year.