Lifeboat Fund Pays Out £13.5M To London Capital Customers

Law360, London (July 31, 2020, 3:20 PM BST) -- Britain's bankruptcy compensation scheme has said it is ramping up the rate at which it is paying out claims to customers who lost money in the high-profile collapse of investment firm London Capital & Finance.

The Financial Services Compensation Scheme said Thursday that is has paid out over £13.5 million ($17.8 million) in compensation over 844 decisions to customers who invested in LC&F before it went bust in 2019.

"We have increased the rate at which we are issuing decisions to LC&F customers," the FSCS said. "And we expect the volume of decisions to increase further in the coming months."...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!