On 8 November 1942 Captain Peters, commanding in Walney, led his force through the boom towards the jetty in the face of point-blank fire from shore batteries, the sloop La Surprise, and the destroyer Epervier.

At that time the engine room was in flames and very shortly thereafter exploded and the ship turned on its side and sank.The survivors were released on 10 November 1942 when the French garrison surrendered.

In addition to his service with the Royal Navy, Fritz worked with British Naval Intelligence and advised Prime Minister Winston Churchill.

British double agent Kim Philby noted his admiration for Secret Intelligence Service instruction leader "Commander Peters" in his book My Silent War.

In spite of efforts by the pilot, Flight Lieutenant Wynton Thorpe, RAAF, who held on to him for ninety minutes in the water, he was dead when the rescue launch reached them.

Mount Peters near Nelson, British Columbia, where his mother lived in her last years with the family of her daughter Helen Dewdney and her husband E.E.L.

A display of photos and panels on his life is on the main floor of the Daniel J. MacDonald Building in Charlottetown, Prince Edward Island.