LCF investors drop court appeal against FSCS

Some 11,600 bondholders lost their savings

Pedro Gonçalves
clock • 2 min read

Customers who lost money in the collapse of mini-bond company London Capital & Finance have withdrawn their judicial review appeal against the Financial Services Compensation Scheme (FSCS).

"On 29 March 2021 we shared the news that the court had reached a decision on the judicial review that was brought against FSCS by some LCF bondholders," the FSCS said in an update on its website. "The claimants then filed an appeal but have now announced that they have withdrawn this appeal. This brings the legal challenge against FSCS to a close. This update does not change any of our decisions on LCF claims," the FSCS added. Four of the LCF bondholders who were representing the rest of the mini-bond provider's investors had won permission to take their case to the Court of Appeal f...

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