Victims who lost their money following the collapse of mini-bond provider London Capital & Finance (LCF) in 2019 may receive as little as 10% of the funds owed to them, administrators have confirmed.
Evelyn Partners, the joint administrators, said creditors could expect to get between 10% and 18% of the funds owed to them. It gave the latest update in a progress report for the period from 30 January 2023 to 29 July 2023 released last month. This is a significant revision down from original compensation estimates, which said at least a quarter of monies would be returned to creditors. Evelyn Partners confirmed there had been a reduction to what investors could expect back due to "the valuation of certain assets" and "the need to expend very substantial further costs" relating to t...
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