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Victorian Liberals Approve $1.55m Rescue Loan for John Pesutto

Facilitated through the party’s investment arm Vapold at market-rate interest, the loan settles his defamation costs, averting a Hawthorn by-election.

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The party will avoid a likely by-election in its former leader's marginal seat by helping to settle his debt to MP Moira Deeming.

Overview

  • On June 19, the party’s administrative committee voted to loan John Pesutto $1.55 million to cover his outstanding defamation costs owed to Moira Deeming.
  • The funds will be advanced via Vapold at a commercial interest rate, secured against Pesutto’s superannuation savings and backed by personal guarantors alongside mandatory fundraising commitments.
  • In December 2024, a Federal Court ruled that Pesutto defamed Deeming by implying she associated with neo-Nazis and ordered him to pay $315,000 in damages plus $2.3 million in legal fees.
  • Deep divisions surfaced over the bailout proposal, leading to a secret ballot that tested the sway of leader Brad Battin, federal MP Dan Tehan and party president Philip Davis.
  • Moira Deeming has expressed doubt that the loan will resolve ongoing infighting after her offer to delay bankruptcy proceedings in exchange for preselection guarantees was rejected.