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:
School meals report doesn't let people know about [CENSORED]
Roadracing documentary showcases familiar faces!
Silly Moos site gets green light from planners
Manx Rally this weekend
Minister defends £2.2 million loan to King William's College
Off-Island vehicles owe £75k in unpaid parking tickets
Government doesn't know how much MHK's questions cost taxpayer
Cregneash bus campaigners to host coffee morning
