Nick Sherry
The tentacles of the Opes Prime collapse have reached out to entangle the Minister for Superannuation and Corporate Law, Senator Nick Sherry, who has acknowledged a potential conflict of interest and stood aside from handling the issue.
Sherry has acknowledged that two members of his extended family have investments in Lift Capital Partners and that to avoid any appearance of a conflict of interest he had immediately informed the Acting Prime Minister, Julia Gillard, that both he and his office would be playing no further role in handling the Opes Prime case.
He said he and his immediate family had no personal interest or investment in the company.
Responsibility for matters relating to Opes Prime and Lift Capital will now be handled by the Treasurer, Wayne Swan, however, Sherry will maintain his broader oversight of the Australian Securities and Investments Commission.
