The scheme of arrangement proposed by Link Fund Solutions to settle civil claims surrounding the suspension of the former Woodford Equity Income fund has been sanctioned by the High Court, with investors set to receive their first payment by the end of March barring successful appeals.
In his written judgment, justice Jonathan Richards today (9 February) confirmed he has no reason to contradict the outcome of the scheme vote and so will sanction the scheme of arrangement. Richards found the objections, including those related to access to the Financial Ombudsman Service and Financial Services Compensation Scheme, complaints regarding fairness or clarity of language or the independence of the chair of the investor committee, among others, held no weight against the vote. The scheme was approved by a significant majority of those investors wh...
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