Keane to lodge complaint over Halifax Bank

Dominic Keane, the former chairman of Premier League club Livingston, is calling the Financial Services Authority to investigate events leading to the £10m breakdown of the club in February. Keane claims that Gavin Masterton, former managing director of the Bank of Scotland, which merged with Halifax Building Society, deliberately hidden from shareholders "essential information" about Halifax Bank of Scotland bad debt provision and gave wrong financial advice to the club, which played a contributory factor in its collapse. However, Halifax Bank of Scotland rejects the claims and says Masterton was acting in his own capacity as a football club investor. However, Livingston owners, the Lionheart consortium, have played down speculations that the club is on the verge of revealing severe financial difficulties. The group, led by Irish businessman Pearse Flynn, took over the running of the club as preferred bidder after it fell into administration.

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