02/25/2013 04:15 EST | Updated 04/27/2013 05:12 EDT

New Brunswick Liberal leader to seek Shawn Graham's old seat in byelection

SAINT JOHN, N.B. - The new leader of the provincial Liberal party in New Brunswick says he will soon seek a seat in the provincial legislature — the one vacated last week by former leader Shawn Graham.

Brian Gallant says he will run in the riding of Kent when a byelection is called.

The governing Conservatives have said they will not contest any riding that Gallant chooses to run in.

Graham said last week he would resign his seat after he was found to be in conflict of interest over a $50-million loan guarantee given to Atcon construction back when he was premier four years ago.

Earlier in the week, the province's conflict of interest commissioner, Patrick Ryan, said Graham was involved in a cabinet decision to provide financial help the company, which had ties to his father.

Graham, once a rising star among the province's political establishment, said it was an error in judgment and apologized.

(News 88.9)