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DeloitteFerguson MarineMV Glen SannoxMakes Statement

Administrator lists debts: Taxpayer owed £50m

25 Sep, 2019

A “statement of affairs” produced by Deloitte, the administrator of the shipyard, show £49.7m is owed to the Scottish government – nearly £5m more than previously revealed. The Scottish government said it provided two commercial loans totalling £45m to Ferguson Marine, on which interest applies. The new figures also reveal that two partially-built CalMac ships at the centre of the firm’s collapse have been valued at £48.3m, nearly half the value of the £97m deal agreed to build the ships. Ferguson Marine went bust owning more than £73m. Further details from the document show that:

  • £15.8m is owed to finance firm HCCI
  • The Scottish government is owed £49.7m
  • A total of £3m is owed to Clyde Blowers Capital, owned by former Ferguson boss Jim McColl
  • There is an outstanding debt of £426,000 owed to HMRC
  • The 300-strong workforce is owed £164,000 in overtime, holiday pay and pension contributions
  • £1m is due to the European Commission.
  • £3.9m is owed to business creditors, including a number of local Inverclyde companies

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