Cash For Honours - Loans - Conservative Party Loans

Conservative Party Loans

On 31 March 2006 the Conservative Party published a list of 13 wealthy individuals and companies to whom it owed a total of £15.95 million:

Henry Angest - £550,000 - Chairman and Chief Executive of the Arbuthnot Banking Group PLC
Michael Ashcroft, Baron Ashcroft - £3.6 m
Cringle Corporation - £450,000
Dame Vivien Duffield - £250,000
Johan Eliasch - £2.6 m
Graham Facks-Martin - £50,000
Michael Hintze - £2.5 m - owner of CQS Management
Irvine Laidlaw, Baron Laidlaw - £3.5 m
Alan Lewis - £100,000
Raymond Richards (deceased) - £1 m
Victoria, Lady de Rothschild - £1 m
Leonard Steinberg, Baron Steinberg - £250,000
Charles Wigoder - £100,000 - Chief Executive of Telecom Plus
Total: £15,950,000

The identity of 10 backers it had repaid - including a number of foreign nationals - was not revealed. These loans had totalled £5 million. Some of these lenders were concerned not to reveal their identity fearing that it might compromise their existing business arrangements with the government. Their details, including one foreign backer, will be provided "in confidence" to the Electoral Commission. Initially the party had sought not to disclose to anyone the names of two lenders who requested confidentiality.

The party had an outstanding £16 million bank loan and £4.7 million was owed to local Conservative Party associations.

The Electoral Commission welcomed the decision to publish the list - but said it had written to the party asking for more details on the loan terms.

Read more about this topic:  Cash For Honours, Loans

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