Lender's Restructuring Plan Tossed After FCA Objections

Law360, London (May 25, 2021, 1:01 PM BST) -- A London judge has rejected a restructuring plan proposed by Amigo Loans, backing the Financial Conduct Authority's argument that the guarantor loans lender can find an alternative scheme to protect claims for redress brought by borrowers.

The High Court has said it will not approve a scheme of arrangement brought by the guarantor loans lender as it seeks to restructure its debt. (iStock) High CourtJudge Robert Miles said in a judgment handed down late Monday and published Tuesday that the court would not approve a scheme of arrangement brought by Amigo Loan Ltd. The arrangements allow solvent companies to write off claims...

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