Labour Due to Re-Pay £6,725,000 of “Commercial” Loans

This month and next month some major “commercial” loans are due to repaid:

Unity Trust Bank £2,000,000.00 Unity rate + 2.00% 13/12/06
Co-operative Bank £3,500,000.00 Base + 2.00% 31/12/06
Co-operative Bank £1,225,000.00 Co-op rate + 2.00% 20/01/07

In the case of the small union controlled Unity Trust Bank the Financial Services Authority has put the bank on notice that it must report the risky Labour party loan situation monthly. If the loan is re-scheduled instead of repaid the FSA may have to take a closer look at the situation.

See here, here and here for more details.




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