UK Gov't Plans £120M Compensation For LC&F Investors

Law360, London (April 19, 2021, 4:58 PM BST) -- The government said on Monday that it will pay out an estimated £120 million ($168 million) in compensation to investors in London Capital & Finance, the minibond issuer that left 12,000 people out of pocket when it collapsed.

John Glen, Economic Secretary to the Treasury,  said the government fund would compensate bondholders up to 80% of their investment in the failed company, up to a maximum of £68,000. The collapse of LC&F in January 2019 left investors who bought its high-interest debt securities, known as minibonds, with a £236 million loss.

The compensation fund will be established after a critical report by a...

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