Centrepoint MD departs; company’s fate still unclear
Premium funding specialist Centrepoint Alliance has confirmed the departure of MD Richard Cawsey as the eventual fate of the company remains unclear.
In the wake of Mr Cawsey’s departure, Centrepoint has handed the MD role to non-executive director and Alliance Finance Corporation founder Martin Kane.
Alliance Finance merged with Centrepoint Finance in October 2005 to create the existing business.
On Friday Director Insurance Markets Bob Dodd said the company was due to make an announcement on its future to the Australian Securities Exchange “shortly”.
“From an operational perspective we are continuing to trade, process and settle business as per our previous notice,” he told insuranceNEWS.com.au.
Trade in company securities has been suspended since April 30 as directors sort out capital and structural issues. Earlier this month the company sought a second extension of its voluntary suspension, indicating it would resolve matters by June 17.
In the wake of Mr Cawsey’s departure, Centrepoint has handed the MD role to non-executive director and Alliance Finance Corporation founder Martin Kane.
Alliance Finance merged with Centrepoint Finance in October 2005 to create the existing business.
On Friday Director Insurance Markets Bob Dodd said the company was due to make an announcement on its future to the Australian Securities Exchange “shortly”.
“From an operational perspective we are continuing to trade, process and settle business as per our previous notice,” he told insuranceNEWS.com.au.
Trade in company securities has been suspended since April 30 as directors sort out capital and structural issues. Earlier this month the company sought a second extension of its voluntary suspension, indicating it would resolve matters by June 17.