Keydata founder blasts FSA for "manufacturing" insolvency

A spokesperson for Stewart Ford said last June when the FSA applied to the High Court to put Keydata into administration, the firm "was a very successful and financially sound company", worth more than £60m with little debt. When Keydata closed down last June, one of the reasons the FSA gave was it could not afford to pay a £5m tax bill. But Jack Irvine, the PR consultant acting for Ford, said the tax bill was a "red herring" and claims Keydata's collapse was "deliberately manufactured". "It was not a notional tax bill that led to Keydata's administration. It was the deliberate and...