MPs looking into the Arch Cru collapse have called for a "global meeting" of the parties involved after accepting there is now "no guarantee" of investors getting more than 70% of their assets back.
The All Party Parliamentary Group (APPG) on Arch Cru met on Wednesday and heard from Hugh Aldous, chairman of the boards of the 18 sub-funds that the Arch Cru fund range was invested in. In a statement following the meeting, chairmen Alun Cairns MP and Tom Greatrex MP, and secretary Guy Opperman MP, said there was now "no guarantee that 70% of asset recovery can be improved on", referring to the offer on the table put together by the FSA. A spokeman for the APPG added that it had "discovered that £225m from the £460m investment pot has been lost through poor and negligent investment''...
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