Financial Services Compensation Scheme (FSCS) payments to investors in the Arch cru funds have been delayed following the failed wind-up of the funds.
Arch cru funds were scheduled for wind-up in 2015, allowing for final top-up payments to be made to investors who had been compensated on an interim basis back in 2013. But delays in crystallising the funds meant final top-up payments could not be made as planned and the scheme is now considering how to continue with the part-compensated claims, it said in a statement on its website. It will update affected customers in April, it added. The statement confirmed a previous warning by the funds' former authorised corporate director (ACD) Capita that ongoing legal battles prevented furthe...
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