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Morses Club sees shares dive as it pursues scheme of arrangement

Morses Club said a central objective of the potential scheme would be to treat all customers equitably and settle eligible redress claims arising from customer complaints over a defined period. ....

United Kingdom , Gary Marshall , Morses Club , Financial Conduct Authority , High Court , Redress Claims , Amigo Loans ,

Potential Scheme of Arrangement, 21 Dec 2020 01:00


Potential Scheme of Arrangement
Amigo Holdings PLC (LSE: AMGO), a leading provider of guarantor loans in the UK, announces that the Board has decided to pursue the use of a Scheme of Arrangement under Part 26 of the Companies Act 2006 ( Scheme ) in relation to the group s Redress Claims (as defined below).  The Directors believe that a successful Scheme will provide certainty to the total liability arising from customer complaints. 
 
Whilst the Scheme will not enable all claims relating to customer redress issues arising from unaffordable lending ( Redress Claims ) to be paid in full, the Directors have now decided that a Scheme is the best vehicle for addressing customer Redress Claims. A key objective is that all customers are treated equitably. ....

United States , United Kingdom , Gary Jennison , Lorna Cobbett , Kate Patrick , Roger Bennett , Company Secretary , Us Bank Trustees , Financial Ombudsman Service , Financial Conduct Authority , Amigo Holdings , Companies Act , Redress Claims , Final Response Letter , Balance Adjustment , Redress Claims Pool , Balance Adjustments , Market Abuse Regulation , Investor Relations , Senior Secured Notes , United States Securities Act , Common Code , Trustees Limited , ஒன்றுபட்டது மாநிலங்களில் , ஒன்றுபட்டது கிஂக்டம் , கேரி ஜென்னிசன் ,