Lender says he risks collapse if restructuring is not approved

By Najiyya Budaly (Nov 29, 2021, 1:07 p.m. GMT) – Subprime lender Amigo Loans said on Monday he would fall into administration if he could not restructure, after a court upheld the Financial’s argument Conduct Authority that this decision should be dismissed. amid concerns that the scheme would fail to protect borrowers’ compensation claims.

Amigo Holdings PLC said it plans to file an administration application or pursue other insolvency proceedings if its plan of arrangement is not approved by a judge. The agreements allow solvent companies to write off the claims of secured creditors.

“We have noticed many times that we are an insolvent company, so there is no easy path if we …

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