Dead and buried, and were probably never going to happen anyway.
Never had any vessels, despite promises, then claiming to be sourcing temporary vessels, which also never appeared.
The company currently has two purpose-built, 260 passenger vessels, capable of travelling between Glasgow to Greenock, Dunoon and Rothesay at a speed of 30 knots, on order.
However, these vessels will be unavailable to enter service until Summer 2003, and suitable temporary solutions have not yet been secured.
Here's a link to some info that was dredged up on the organisation and some of the people:
http://www.butewiki.de-soft.co.uk/index ... /Clydefast
And, their site is still 'live', if dead in terms of progress:
http://www.clydefast.com/