"The directors invited HSBC to petition, " Owers told Boating Business. But he couldn't offer any reasons for the failure of the company, saying only that KPMG is still assessing the position.

Two marine finance houses had interests in vessels stocked by Offshore Marine; Lombard Marine Finance and Barclays Marine Finance.

"Both Lombard and Barclays Marine Finance had charges over the boats, " confirmed Owers, but he refused to comment on widespread rumours that Offshore Marine had sold boats legally owned by Barclays Marine Finance.

James Crew, senior marine manager at Barclays Marine Finance, told us: "Barclays does not comment on any customer matters."

Ian Braham, head of marine finance for Lombard, told BB there are no cases in which Lombard is involved, where ownership is in question.

Adrian Smith, ex-Offshore Marine sales manager and now manager of the new Fairline North Wales dealer, was unavailable for comment.

It seems certain things will get hotter for Offshore Marine. The company is still in administration and under investigation and BB understands one boat in the yard at Pwllheli has an Excise notice on it. Sources have suggested to BB that Graham Rawlinson, the managing director of Offshore Marine, may be in a psychiatric hospital.

Any reader with information on this story can contact BB's editor, Peter Nash, on 01892 545696. Confidentiality will be respected.