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Insider UK
Insider UK
National
John Glover

Scottish Government faces £5 million bill to insurers over ferry shipyard takeover

The Scottish Government has to pay a £5m insurance bill after losing a High Court case related to its takeover of the Ferguson Marine shipyard.

Caledonian Maritime Assets Limited (CMAL), the government-owned company which commissioned the ferries, sought to rectify an agreement with HCC International Insurance Company.

The Texas-based firm said it was owed the multi-million windfall as a result of the way the government bought the troubled shipyard when it was in administration during 2019.

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