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Cannan asks about SPC owners' financial status

Fri, 13 May 2011

Questions are being raised over the financial status of the new owners of the Steam Packet Company.


Portuguese Bank, Banco Espirito Santo, took over the ferry operator earlier this year.


Michael MHK David Cannan will ask Chief Minister Tony Brown whether the Council of Ministers has requested a report on the finance and credit status of the company in Tynwald next week.


Mr Brown has previously denied that the Steam Packet was repossessed by the bank from former owners Macquarie.


Tynwald sits from Tuesday.


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