The Times questions this morning whether the 2.4 million pound donation to the LibDems by convicted perjurer Michael Brown was permissable under Electoral Commission rules. Three of the four investors in 5th Avenue Partners were foreign, which raises the possibilty that the LibDems were in effect given a foreign donation. This is The Times's speculation, not mine.
These four investors, who include former Man United chairman Martin Edwards, believe it was their money which Brown donated and they want it back. However, the LibDems have spent the money and couldn't pay it back even if they felt morally obliged to - which they don't.
The next stage is for the four investors to launch a court action against the LibDems. Watch this space.