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...

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?
Ask a question!