Victorian Liberals prepare last-minute bid to bail out John Pesutto with loan to help pay $2.3m defamation costs

Exclusive: Liberal sources say proposal to help former opposition leader avoid bankruptcy is being finalisedGet our breaking news email, free app or daily news podcastVictorian Liberal party officials are preparing a last minute proposal for the state division to loan former leader John Pesutto enough money to pay the $2.3m in legal costs he owes to Moira Deeming. The proposal, according to multiple Liberal sources, will need to be presented to the party’s 19-member administrative wing in order to be approved. But so far, no meeting has been called to discuss the loan and its terms, which have not been finalised.The loan may be partly funded by the Cormack Foundation, the state party’s multimillion-dollar investment vehicle, which has so far been reluctant to support Pesutto as it is not allowed to provide financial assistance to individuals. Continue reading...

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