Update: Woodford scheme of arrangement sanctioned by High Court

Appeal process open until 23 February

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.

Investors are set to receive their first payment in April, barring successful appeals. This marks a delay to the previously outlined schedule, which originally proposed the first payments, expected to range between £183.5m and £200m, to be made by 31 March 2024. The delay has arisen as a result of the judgment being left unsealed until 29 February in order to allow for potential appeals, which will be accepted in writing until 4pm on 23 February.  FCA reasserts proposed Woodford redress is 'subset of total losses' as sanction decision delayed In his written judg...