The blame was undoubtedly with the LSC, and everybody knows it. As a direct result of this debacle, the chief executive fell on his sword and the whole organisation was then wound up. The blame was laid fair and square at their door by the House of Commons Public Accounts Committee, no less, which described the LSC's handling of its college building programme as 'catastrophic mismanagement'. It resulted in a £2.7 billion debt, with 144 college building contracts having to be terminated abruptly, and leaving many colleges with huge financial penalties for breach of contract with civil engineering companies. 23 colleges found themselves with debts of more than 40% of their annual income, with some facing possible financial collapse (See the Wikipedia link in my previous post).