ASIC acts on Westpoint-related firm, insurance broker
The corporate regulator has applied for orders to have another company linked to the Westpoint Group wound up, and has separately brought charges against a Tasmanian insurance broker.
The Australian Securities and InvestmentsCommission (ASIC) alleges that Lanepoint Enterprises — a company whose sole director is Karen Carey, the sister of Westpoint director Norm Carey — is insolvent.
According to ASIC’s records, Karen Carey took over as Lanepoint’s director from another of her brothers, Allan Carey, on April 12, 2006.
Karen Carey is also the sole director of Bowesco, which is the sole shareholder of Lanepoint, and is also subject to orders obtained by ASIC.
ASIC applied to the Federal Court in Perth for orders to have liquidators appointed to Lanepoint on Friday June 2. The matter will return to court for a directions hearing on July 18, 2006.
Meanwhile, Tasmanian insurance broker Brendan Manion has appeared in Launceston Magistrates Court charged with six counts of dishonest conduct relating to financial products and services, two counts of failing to provide written particulars of fees and charges, and one count of altering books.
ASIC brought these charges against Manion following an investigation into the affairs of insurance broking company Brendan Manion Specialist Insurance Intermediary between July 2, 2001, and September 30, 2004, during which time Manion was the firm’s sole director and principal.
Manion was not required to enter a plea. He will next appear on July 11, 2006.
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