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New CPP chief executive Paul Stobart said the company had taken steps to overhaul its practices.
BBC: Insurance company CPP hit by record FSA fine
CPP's chief executive officer Paul Stobart, said the proposed sale was in the "best interests of CPP and its stakeholders" and would help in "stabilising the business".
BBC: York-based card firm CPP to sell US arm for ?26.1m
Having ridden for the Stobart Honda team at Dundrod, he is set to ride for the Paul Bird-managed team at all the international events in 2006.
BBC: SPORT | Motorsport | Motorbikes | Lougher's experience is decisive
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