Government and the Sefton Group were 'contradicted' over the severity of the group's position before it was bailed out by the taxpayer.
Outgoing chairman Sir Miles Walker says there was a difference of opinion admitting that although times were difficult the group wasn't on the brink of bankruptcy.
Government's decision to offer a multi-million pound rescue package didn't find favour with everyone - he says he believes it should have been kept private:
In a turnaround yesterday the group announced it had recorded a £10.3 million profit for the last financial year - Sir Miles says he can now understand the public's reaction:
Plane makes emergency landing in field
Manx star reveals Marvel show release date
Kiefer Sutherland stars in '24 at Villa Marina!
Police still looking for stolen car from Douglas
Planning submitted for new mobile classrooms for two schools
Infrastructure Minister says department is dealing with boy racers
Charity holding suicide prevention training in June
Manx resident caught-up in Georgian protests
