They aren't reopening the issue as to whether the LDs carried out sufficient checks on the permissibility of the donation at the time - that's closed and resolved. The Commission is of the view that the officers of the party acted in good faith at the time.
It is not clear to the Commission that 5th Avenue Partners Ltd was carrying on business in the UK at the time the donations were made. If not, then the donations were impermissible...
Impermissible donations have to be handed over. No ifs or buts - even if the party was beyond reproach. The investigation into this part of the saga is on hold pending further discussions with the City of London Police over the status of 5th Avenue.
It really isn't over. No matter what the Lib Dems say.