Amigo investors vent fury at City watchdog for ‘forgetting’ them in dealing with the lender By Lucy White For The Daily Mail Published: 21:57 BST, 15 June 2021 | Updated: 21:57 BST, 15 June 2021 Shareholders in Amigo Holdings have blasted the City watchdog for ‘forgetting’ investors in dealing with the lender. The Amigo Shareholders … Read more
When you are a City watchdog, it’s hard to win. The Financial Conduct Authority has been excoriated for being missing in action over Woodford, LCF, and Greensill.
Amigo, which hands loans to customers with a poor credit score if they have a friend or family member willing to repay the debt if they cannot, warned it would go bust if its plan did not get the green light.
Shares in subprime lender Amigo Loans fell close to 50 per cent today after its proposed rescue plan was roundly rejected by the High Court, despite the approval of creditors.
The shares had been frozen while it awaited the outcome of a legal battle, which it says will either save it or ruin it. But the freeze was lifted – even though the court has not yet published its verdict.
Amigo boss warns shameless claims firms are blocking struggling borrowers from getting the redress they are due Claims management companies offer to ‘help’ customers win compensation from firms such as Amigo Loans Gary Jennison says CMCs are charging customers up to 36 per cent of redress they receive – and in some cases preventing borrowers … Read more
Boss of Amigo Loans says it will fall into insolvency if landmark court judgment goes against it By Emma Dunkley, Financial Mail On Sunday Published: 21:50 BST, 15 May 2021 | Updated: 21:50 BST, 15 May 2021 The boss of Amigo Loans has said it will fall into insolvency if a landmark court judgment goes … Read more
Subprime lender Amigo Loans’ share price fell by more than 30 per cent this morning after regulators said they would oppose a rescue plan which would cap compensation payouts in court. The Financial Conduct Authority previously said in March it had several problems with Amigo’s proposed ‘Scheme of Arrangement’, including over how mis-selling complaints would … Read more
Britain’s largest guarantor lender Amigo Loans has been given the green light by the High Court to proceed with a scheme designed to cap the cost of compensation for mis-sold loans. Up to 1million current and past borrowers potentially given unaffordable loans as long ago as 2005 will now have until 12 May to vote … Read more
Amigo Loans heading for crunch court decision that could tip lender into administration, leaving 700,000 borrowers without compensation By Emma Dunkley, Financial Mail On Sunday Published: 21:50 GMT, 20 March 2021 | Updated: 22:47 GMT, 20 March 2021 Amigo Loans is heading for a crunch court decision that could tip the lender into administration, leaving … Read more