N&P confirms return of £1.5m Lifemark loan

The emergency loan facility, which helped stave off a firesale of Lifemark's assets, was for a limited period and expired today.  N&P is embroiled in a compensation row with over 400 investors who claim they lost money because its IFAs mis-sold them Keydata products. It has not said how soon the money will be returned. However it is rumoured to have made £80,000 from the four month loan after charging Lifemark interest of nearly 15%.  During the same period, US hedge fund CarVal, which loaned Lifemark $7.5m and also demanded nearly 15% interest, will have racked up a massive $40...