Internet Service Provider Biscit has insisted it is "business as usual" after its chief executive left the board.

The firm has also denied speculation that it has been undergoing financial problems after refund cheques to customers bounced. The firm also laid off some staff in January

The company today announced the departure of its executive director, Hugh Paterson, and said: "Biscit today advises that Hugh Paterson has resigned as an executive director of Biscit and its internet businesses and has accepted a new mandate from the new shareholders to develop Biscit's forward roadmap."

A spokesperson for Biscit said: "Hugh is a skilled business leader and marketeer. During his tenure Biscit has grown significantly and his many broadband initiatives have been recognised as among the most innovative on today's market."

Paterson told the Reg: "I've resigned so I can concentrate on future developments. But the rest of this is overblown. The bounced cheques were just an administrative error - we closed an account but everyone has now been refunded. There are no financial problems and our rent is up to date. We have a good core of staff although there were some redundancies earlier in the year." ®

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