Minibond Victims To Appeal Loss In Compensation Battle

Law360, London (May 26, 2021, 4:37 PM BST) -- A judge has allowed victims of London Capital & Finance PLC to challenge his decision that many bondholders cannot recover their losses under Britain's Financial Services Compensation Scheme because the product they were sold could not be classed as investments.

High Court Judge Charles Bourne said in an order dated May 20 that lawyers acting for some of LC&F's 11,600 customers could challenge his finding rejecting payouts for more victims. The bondholders' proposed appeal will argue that clauses that bar them from collecting under the FSCS were unfair under the Consumer Rights Act 2015 and therefore nonbinding.

The dispute stems from...

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!


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!