The Chief Minister says any discussions regarding an out of court settlement in the matter of the Manx Electricity Authority loans would be in relation to the amount of the loans rather than the legality of them,which remain a matter for the courts.

Tony Brown was replying to a question in the Keys this morning from Michael MHK David Cannan.

In a supplementary question Mr Cannan asked if - what he called - the "very expensive" court proceedings should continue, and if Mr Brown knew that the findings would be on the legality of the loan, and the final outcome after all appeals would be in the English courts.

Mr Brown said he believed the Island had no choice in the matter, and in response to a further supplementary he said if more money was required for the legal case that would be dealt with through the proper channels: