Guy Opperman, Conservative MP for Hexam and secretary of the All Party Parliamentary Group on Arch Cru, is "reluctantly" urging his constituents who lost money in the scandal to accept the deal put forward by Capita to recoup some of their investment.
The Capita payment scheme is a £54m compensation package funded by Arch Cru's authorised corporate director Capita alongside the funds' depositaries BNY Mellon Trust & Depositary and HSBC Bank. It was announced in June 2011 with the backing of the then-regulator, the Financial Services Authority (FSA). Investors have until 31 December this year to sign up to the payment scheme, though, by doing so, they will forfeit the right to participate in any litigation against Capita. According to Opperman's (pictured) calculations - based on information from Hugh Aldous, chairman of the boar...
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