The legal expert who deemed the Sefton loan deal to be unlawful has now offered Government three options that could rectify the situation.
London lawyer Richard Moules said government could create new legislation retrospectively to validate the payments, regularise the matter under the Financial Provisions and Currency Act 2011, or opt not to recover the money.
Government opted to regularise the matter and a three way agreement has now been signed with the Treasury and the Sefton Group.
The fallout from the initial revelation saw Economic Development Minister John Shimmin resign from the post.
Chief Minister Allan Bell says he believes mistakes were made in good faith and he's satisfied that the necessary governance arrangements are adequate.
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