The £82.5m that had been drawn down from the loan has become a taxpayer loss as CMAL says it was "eliminated" after Ferguson Marine went into insolvency, in August, 2019. Mr McColl, one of Scotland's richest men had acquired Ferguson Marine out of insolvency 11 months before becoming the preferred bidder. The letter confirmed that ministers had approved the award of the contracts to Ferguson Marine. And it stated: "There is insufficient documentary evidence to explain why Scottish ministers accepted the risks and were content to approve the contract award in October 2015." The Scottish Government spoksman added: “The Scottish Government operates under collective responsibility and remains focused on delivery of the ferries by Ferguson Marine.

Source: The Herald April 03, 2022 04:20 UTC