The owner of a fishing boat which sank with the loss of seven lives told a court yesterday of his feelings of regret following the tragedy.

Solway Harvester owner Richard Gidney, 43, said the events of January 11, 2000, had affected him deeply and added: "I don't regret anything more in my life than what has happened to that vessel and these men."

He made the statement at Kirkcudbright Sheriff Court when prompted by Andrew Smith, QC, acting on behalf of Isle of Man coroner Michael Moyle.

The QC asked if he wanted to express any remorse or sorrow about what happened to the families of those who died.

Looking towards the public gallery, Mr Gidney replied: "Of course. I think this has affected me extremely deeply.

"Maybe not as deeply as the people there, but ..."

He bowed his head and struggled to compose himself before going on to express his regret at what happened.

The boat owner's evidence was witnessed by around 20 friends and relatives of those who died, on the second day of a special court hearing.

He was ordered to give evidence in Scotland after he refused to attend an inquest on the Isle of Man.

Mr Gidney went on trial in 2005 accused of manslaughter in relation to the sinking of the vessel, but was acquitted when a judge ruled there was no case to answer.

During evidence yesterday, the court heard that the Solway Harvester's life rafts had not been serviced for a number of years prior to the tragedy.

Mr Gidney agreed that it was a "pretty serious failing", but insisted he had no idea why they had not been serviced for so long.

The court was told a Marine Accident Investigation Branch report into the sinking found that the Solway Harvester's life-rafts were last serviced in September 1996, despite rules dictating that they should be serviced every year.

Mr Gidney told the court it was up to the skipper to deal with boat maintenance.

He told the inquiry: "The manner in which I ran the company was always that money was never an object with the upkeep of the vessel."

During another area of evidence, Mr Gidney went on to accuse the QC of trying to "twist the truth" in an exchange over a safety certificate for the boat.

He admitted there was a time when the Solway Harvester sailed when he was not in possession of the relevant UK fishing vessel certificate.

But he insisted the boat was not sailing illegally and said the authorities had simply not issued him with a fresh certificate when a short-term certificate had expired.

The court hearing came to an end yesterday afternoon. A full transcript of the proceedings, heard before Sheriff Principal Brian Lockhart, will be handed over to the Isle of Man coroner in the next few weeks.