Tories warned: "come clean" on loans or face court action

David Cameron's continual refusal to "come clean" over the suspected £24 million in loans given to his party by unnamed doners has led the Electoral Commission to threaten to go to court to force him to show whatever it is he is trying to hide.

Mr Cameron and the Tory party have been avoiding declaring certain donors to their party by claiming that certain donations are "loans" and, as such, are not subject to declaration under the current parliamentary rules.

The Electoral Commission wants to check -

· the interest rates, to check whether they were preferential compared with those offered by banks.

· details of security offered by the party for the loans.

· the repayment period for any of the loans to see if they are under normal commercial terms.

· arrangements for the loans to be converted into donations.

If any of these loans are found to have been given especially favourable treatment to the borrower, then they will be deemed donations and the doners named.

Click on title for full story.

Tags: Cameron, loans, electoral commission, investigation, Come Clean,