FCA confirms non-opposition to Amigo scheme

FCA has written to Amigo Loans to confirm it will not be attending the hearings to oppose its proposals for its Scheme of Arrangement. FCA has previously said the new proposal is an improvement on the failed proposal of last year. While FCA can still intervene if fact and circumstances change, it has said that if the Court sanctions the scheme the firm could resume lending under close supervision if certain conditions are met.

Emma Radmore