A Tynwald committee’s heard the chairman of the Sefton Group defend its former head Graham Ferguson Lacey.
Today, the Economic Policy Review Committee heard evidence from the group’s chairman, Sir Miles Walker, and its Chief Executive, Brett Martin.
Both described the talks which had been going on with government before the £4.5 million bailout was announced in April.
Sir Miles faced questions about former executive chairman Graham Ferguson Lacey – who’d been criticised for going on a spending spree in 2005.
Sir Miles told the four-strong committee he and the rest of the board of directors had worked under Mr Ferguson Lacey before he’d retired due to ill health in 2011.
When asked by Dudley Butt MLC if he knew of Mr Ferguson Lacey’s reputation, Sir Miles said he’d heard complaints from some people about his business practices.
But he said after dealing with the businessman during his time as chief minister, Mr Ferguson Lacey had always lived up to his promises.
And when asked whether Mr Ferguson Lacey was to blame for the group’s woes, Sir Miles said the problems were the responsibility of the entire board of directors.