Chief Minister Allan Bell has questioned why the chief executive of the Sefton Group told a Tynwald committee the company wasn’t in dire straits when it was bailed out by government.
Yesterday, Mr Bell gave evidence to the select committee which is probing the £4.5 million land and loan deal.
Afterwards, he said he was convinced at the time that the group was in very serious financial trouble and on the verge of collapse, having exhausted all other routes to re finance the business.
Sefton CEO Brett Martin gave his evidence to the scrutiny committee last week.
Mr Bell says he was left in no doubt a tax payer bailout was the only option left when Mr Martin's company approached government for assistance:
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