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Amigo Loans’ application to implement a scheme of arrangement (the ‘Scheme’) was heard at the High Court yesterday. Prior to the court hearing, we made Amigo Loans aware that the FCA did not support the Scheme and set out our concerns with the Scheme in a letter. The letter of concerns provided by the FCA to Amigo Loans was referred to during the court proceedings.
In the interests of transparency and giving all scheme creditors and wider stakeholders an opportunity to better understand the FCA’s position, we have today published our letter of concerns.