Stream board member Jens Neiser has resigned over a potential conflict of interest, according to Chairman Larry Case.

Mr Case told insuranceNEWS.com.au that because Dr Neiser lent money to Stream, he felt he should step down from the board he has served for the past three years.

Stream Group Australia entered voluntary receivership in December, leading to 70 job losses.

Mr Case blamed the failure on last year’s acquisition of loss adjuster Cerno, which was placed into voluntary administration a few weeks after Stream failed to reach agreement with Cerno shareholders.

Stream still runs operations in the UK and New Zealand. Mr Case says an announcement on the business will be made in the next two weeks.