Scottish government faces £5m bill over shipyard takeover
The Scottish government faces a £5m bill to an insurance firm after a High Court ruling over its takeover of the Ferguson Marine shipyard.
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Caledonian Maritime Assets Limited (CMAL) sought to rectify an agreement with HCC International Insurance.
The firm said it was owed money as a result of the way ministers bought the shipyard when it was in administration.
A summary judgment was granted in favour of HCC. The Scottish government, which owns CMAL, said it was aware.
The ruling came after the government lost another case against HCC at the Court of Session in May last year.
The Port Glasgow shipyard is constructing two ferries – Glen Sannox and an unnamed ship known as Hull 802 – which were originally meant to enter service in 2018 but are still unfinished, with costs spiralling.
Problems with the order dragged the yard back into administration in 2019 and since then it has been wholly-owned by the Scottish government.
The decision from Deputy High Court Judge Simon Gleeson was published on Friday