Judicial Review Of LC&F Compensation Payouts Dismissed

Law360, London (March 29, 2021, 1:49 PM BST) -- A judge has dismissed a judicial review into a decision to deny compensation for victims of London Capital & Finance, ruling on Monday that issuing of minibonds by the collapsed company was subject to limited regulatory oversight.

A High Court judge has said the shareholders' claim must be dismissed, despite the "force, lucidity and skill" with which they made their case. (iStock) The dispute stems from the Financial Services Compensation Scheme decision to compensate only a fifth of customers after it ruled last year that LC&F had offered minibonds — a type of unregulated loan investment — without accompanying advice for buyers....

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