Investors in the former Woodford Equity Income fund should expect to receive the first distribution of the settlement fund in the first quarter of 2024, if a majority of creditors vote in favour of Link Fund Solutions’ settlement scheme.
In a practice statement letter published today (7 September), LFS laid out a timeline for the scheme, along with its view on the alternatives if creditors refuse to back it. On 10 October, LFS will attend a first court hearing to gain permission to call a meeting of scheme creditors to vote on their proposals, which, if granted, will allow investors in the former Woodford flagship to accept or reject the offer. From this hearing until 4 December, investors will be able to vote on the proposals via an online system, with a method for those lacking internet access also to be provided. ...
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