New team at Viaduct Capital shake off past prospectus issues

Former chief executive Nick Wevers left the company last month on "amicable and agreeable" terms to pursue his interests in the property sector. This leaves chief financial officer McKay and senior executive lending Blackwood to lead the team as co-managing directors with "more of a team approach."

"We've got an advantage in that we're seeing quite a considerable amount of work coming through our doors - a lot of which we wouldn't touch," said McKay. "If we don't deliver results we get everything we deserve."

Viaduct removed its prospectus in July after The Treasury pulled the plug on its guarantee in April, on the basis that the company failed to comply with rules regarding related party lending and general business conduct around due diligence. McKay said it was a difficult process that slowed Viaduct down from putting out a new prospectus, as none of the government agencies had dealt with these kinds of issues before.

Since then, the company has released a new prospectus and is focused on attracting new money and to take advantage of any opportunities that arise as the economy begins to show increasing signs of life.