THE chairman of Scotland's state-owned investment bank has conceded that the full £9million loan given to Circularity Scotland could be lost as the firm is forced into administration.
The Scottish National Investment Bank (SNIB) used taxpayer cash to invest in the firm set up to run the deposit return scheme (DRS).
Willie Watt told MSPs a "significant" sum of the loan could be lost, before admitting the bank faces losing its full investment. He said: "It's fair to say there will be significant losses on the loan that we have made to Circularity Scotland.
This story is from the June 22, 2023 edition of Daily Record.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the June 22, 2023 edition of Daily Record.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
CLOSE LOOK
Boss Bren will have old target Ademola in his sights yet again
NO PLACE LIKE ROME BALLE
Captain Callum channels spirit of 2019 as he plots another Euro glory night for Bhoys on Italian soil
We kept foot on Gas.. Celts should do the same
La Dea gaffer knows what it's like to suffer Champs League beatings but urges Rodgers to never change side's style
Butt of luck
Gunners edge to win after Martinelli strike goes in off keeper's backside
IT COULD BE CUE!
Snooker's new Golden Ball will now be worth $1million
GET ON TOUR BUS BOYS
Rory urges Warriors stars to aim for British Lions spot
I had to choose who to save.. it's unbearable still
Field worker recalls horror of 1984 famine in Ethiopia
My pal Walter made special me feel
McCoist hails impact of mentor Smith
Toony rallying call to wear poppies and change lives
SCOTLAND rugby coach Gregor Townsend has urged people to show they care by wearing a poppy.
PUTIN PORT ATTACKS DELAYING VITAL AID
PM: Russia risks starving millions by hitting ships
