Emeraude has blamed increased competition for its problems

Gordon Forrest said when Emeraude met harbour authorities on Monday afternoon they had no idea that their Solidor 5 boat would be impounded a few hours later.

The vessel was seized on Monday afternoon by Jersey Harbours, which says Emeraude Lines owes more than �300,000 in unpaid harbour dues.

But Mr Forrest said the company owed �85,000 not the �300,000 claimed by the States.

That is now in the hands of Emeraude and their financial backers Senator Len Norman

And he said he was confident Emeraude would get a significant amount of funding soon in order to help pay off its debts.

Passengers stranded in Jersey because of the vessel being impounded will have their tickets honoured by the company's competitor, Condor Ferries.

Jersey Tourism found accommodation for all the stranded passengers on Monday night.

Senator Len Norman, president of the Harbours and Airport Committee, said the ferry company would get its boat back when it settles its debt.

"That is now in the hands of Emeraude and their financial backers," said Senator Norman.

"The minute we receive funds to meets these overdue harbour dues, the ship will be released and hopefully normal service will be resumed."

The Viscount's department, which carries out orders of the court, seized the Solidor 5 when it arrived in St Helier harbour.

Last week Emeraude filed for bankruptcy in a St Malo court and was given three months to sort out its finances.

The company has blamed increased competition for its financial problems.