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:
D-Day 80th to be marked with bagpipes
Airport closes runway temporarily due to small aircraft incident
Ongoing incident involving emergency services at Ronaldsway Airport
Chief Minister says government have been reminding people to 'buy Manx'
Investigative journo who uncovered Michelle Mone's links to PPE company awarded
Minister to be questioned on cigarette age restrictions
Man denies dangerous driving allegations
Hospitality body hits out at government
