LC&F Bondholders Handed £56M So Far By Lifeboat Fund
Law360, London (February 18, 2021, 3:47 PM GMT) -- Investors in collapsed mini-bond issuer London Capital & Finance have been paid more than £56 million ($78 million) in compensation for their losses, Britain's lifeboat fund said on Thursday, as bondholders continue a court battle to claw back their full investments.
The Financial Services Compensation Scheme said it has paid out just over £56.3 million in compensation to nearly 3,000 bondholders who invested in LC&F before it went bust in 2019. The FSCS said that refunds are taking longer than it had expected because it is analyzing additional evidence in the hope that it can compensate more individuals.
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