Skip to main content
Loading…

Seòmar agus comataidhean

Official Report: search what was said in Parliament

The Official Report is a written record of public meetings of the Parliament and committees.  

Criathragan Hide all filters

Dates of parliamentary sessions
  1. Session 1: 12 May 1999 to 31 March 2003
  2. Session 2: 7 May 2003 to 2 April 2007
  3. Session 3: 9 May 2007 to 22 March 2011
  4. Session 4: 11 May 2011 to 23 March 2016
  5. Session 5: 12 May 2016 to 4 May 2021
  6. Current session: 13 May 2021 to 22 March 2026
Select which types of business to include


Select level of detail in results

Displaying 3919 contributions

|

Public Audit Committee [Draft]

Scottish Government’s Approach to Financial Interventions: GFG Alliance

Meeting date: 25 February 2026

Richard Leonard

I welcome everyone back to this meeting of the Scottish Parliament’s Public Audit Committee. The next item on our agenda is consideration of the Scottish Government’s approach to financial interventions, with particular reference to the GFG Alliance arrangement at the Lochaber aluminium smelter.

I am pleased to welcome our two witnesses: Jeffrey Kabel, chief transformation officer at the Liberty Steel Group; and Helen Lambert, senior legal counsel at the GFG Alliance. You are both very welcome. Thank you for joining us—we appreciate it.

We have some questions that we would like to put to you, but, before we get to our questions, I invite Mr Kabel to make a short opening statement.

Public Audit Committee [Draft]

Scottish Government’s Approach to Financial Interventions: GFG Alliance

Meeting date: 25 February 2026

Richard Leonard

Thank you. Given that you mentioned that full transparency is important to you, I am bound to ask—you will have seen that the committee has raised this on a number of occasions—why you do not have any auditors and have not lodged audited accounts. As you will understand, we are the Public Audit Committee.

Public Audit Committee [Draft]

Scottish Government’s Approach to Financial Interventions: GFG Alliance

Meeting date: 25 February 2026

Richard Leonard

It was King & King.

Public Audit Committee [Draft]

Scottish Government’s Approach to Financial Interventions: GFG Alliance

Meeting date: 25 February 2026

Richard Leonard

Which year’s accounts were those?

Public Audit Committee [Draft]

Scottish Government’s Approach to Financial Interventions: GFG Alliance

Meeting date: 25 February 2026

Richard Leonard

Why has it been five years and you still do not have auditors in place?

Public Audit Committee [Draft]

Scottish Government’s Approach to Financial Interventions: GFG Alliance

Meeting date: 25 February 2026

Richard Leonard

You mentioned the Serious Fraud Office investigation, which I think goes back to 14 May 2021, so it is a long-standing investigation. My reading is that the SFO usually investigates only what it describes on its website as the most

“serious and complex fraud, bribery and corruption cases.”

Is that what it is investigating here?

Public Audit Committee [Draft]

Scottish Government’s Approach to Financial Interventions: GFG Alliance

Meeting date: 25 February 2026

Richard Leonard

However, it is a matter of public record that the headings of investigation that the SFO has are serious fraud, fraudulent trading and money laundering.

Public Audit Committee [Draft]

Scottish Government’s Approach to Financial Interventions: GFG Alliance

Meeting date: 25 February 2026

Richard Leonard

Is the investigation only in relation to Greensill Capital, or is it about the relationship with the GFG Alliance?

Public Audit Committee [Draft]

Scottish Government’s Approach to Financial Interventions: GFG Alliance

Meeting date: 25 February 2026

Richard Leonard

So, you do not know what the charges or the suspicions are, because the SFO is at the stage of suspicion and investigation.

Public Audit Committee [Draft]

Scottish Government’s Approach to Financial Interventions: GFG Alliance

Meeting date: 25 February 2026

Richard Leonard

Okay—you are the correspondent.