Former Victorian Liberal leader John Pesutto has expressed his gratitude to his Victorian Liberal colleagues after the party agreed to give him a $1.55 million loan to avoid bankruptcy.
Mr Pesutto was ordered to pay fellow Liberal MP Moira Deeming $2.3 million in legal costs after she successfully sued him for defamation.
He was unable to pay the debt but has been seeking donations to avoid bankruptcy and be kicked out of parliament.
On Thursday night, the party agreed to pay $1.55 million to Ms Deeming directly, with Mr Pesutto to repay the party under a commercial arrangement.
The decision, made by the party’s administrative committee, means Mr Pesutto no longer faces expulsion from state parliament for bankruptcy and therefore avoids the…