Labour pains

Water

"Gordon Brown and Harriet Harman—could find themselves personally liable for the party’s debts" another nail in the coffin I'm glad to see.

dave, surrey

They can probably claim it back in expenses.

Max

Is it a coincidence that Labour are on the verge of being insolvent at the same time that UK external debt exceeds $11 trillion dollars?

Max

http://theerrorlog.blogspot.com/2008/05/whatever-happened-to-prudence.html

The Laughing Cavalier

Send in the bailiffs.

Lance Diatessaron

Maybe we could have a country-wide whip-round and offer to pay it, if they agree to hold an election, a referendum on the EU constitution, cut fuel tax etc.

Ian C

Perhaps Prezza and Lady Blair (bound to be one day - yuk!) can dip into their serialisation advances to help out! Oh, and Levy...

Laura Fox

"Schadenfreude..."

(To the tune of Homer Simpson talking about "donuts...")

Paul Hughes

It's great news! Will we get to see the whole cabinet in a work-house somewhere?

Their courting of dodgy loans has so disgusted their base that the departure of the spivs leaves them completely bereft of grass-roots support. it serves them right.

Cue more calls for state funding!

Martin Adamson

Something here that everyone seems to be forgetting: bankrupts have to stand down as MPs

Danvers Baillieu

Hang on one second. Whilst the legal advice about the liability of NEC members sounds perfectly correct (and I am sure m'learned friends over at Slaughter and May would have got it spot on), for the liability to be triggered, the Banks, especially the Co-op Bank, would actually have to issue proceedings against those unfortunate individuals on the NEC, as well as effectively bankrupt the Labour Party. Theoretically, it is possible that there is sufficient wealth amongst them to pay (I am sure a few of them have nice houses for example), but given the Co-op's business relies on the massed ranks of the left as its customer base, it might decide that it was not exactly in its best commercial interests to do so.

On the other hand, if he had become Gen Sec, David Pitt Watson would have been good for the entire amount on his own and no-one would have shed a tear for him if he had had to shell out. Sensible man.

Frank Pulley

It's time for someone to call on Sir Richard Mottram to repeat the same words he used to advise the Labour Party during a previous famous crisis. And this time he would probably be right.

Max Kaye

Martin Adamson - most of them wont be MPs after the next election.