The compensation scheme put in place by the government last year to pay out to investors that lost money in the London Capital & Finance (LCF) mini-bond scandal has been wound up.
It was confirmed today (3 November) that the scheme closed on 31 October with the government confirming "almost all" eligible bondholders have now received compensation. A total £115m was paid out by the compensation scheme over the 12 months it was open. Under the terms of the compensation scheme, investors were able to receive compensation if they had owned LCF bonds but had not been compensated by the Financial Services Compensation Scheme (FSCS). Individuals who had received partial compensation from the lifeboat fund but had outstanding LCF bonds they had not been compensated ...
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