Just 1% Of Savers To Get Money Back In Minibonds Scandal

Law360, London (January 9, 2020, 12:22 PM GMT) -- Only 159 out of 11,600 savers who invested in London Capital & Finance PLC, a failed minibonds provider, will definitely get money back, Britain’s bankruptcy compensation scheme said Thursday.

A small group of bondholders, just 1.4% of the total minibond customers of the failed company, will definitely get money back, the compensation program said. (AP) The Financial Services Compensation Scheme said it will pay redress to the small group of bondholders, who make up just 1.4% of the total minibond customers of LC&F. The company failed in January 2019, leaving investors facing estimated losses of up to 80% on £236 million...

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