Company repaying loan as agreed says minister

Treasury Minister Eddie Teare says many of the details of the bailout loan provided to the Sefton Group will remain confidential.

This morning in Tynwald, he faced intense questioning from Onchan MHK Peter Karran about the loan, which Mr Karran said had been used to pay off tax and national insurance debts to government.

Mr Teare dismissed many of the questions, saying the issue had been investigated fully by a parliamentary committee.

But he said the company was paying back the money as agreed: