Update: Woodford scheme of arrangement sanctioned by High Court

Appeal process open until 23 February

James Baxter-Derrington
clock • 3 min read

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...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

abrdn: The journey from Europe's second-largest fund manager to the FTSE 250

abrdn: The journey from Europe's second-largest fund manager to the FTSE 250

From the £11bn merger to Bird's exit

Chris Newlands
clock 24 June 2024 • 10 min read
Hargreaves Lansdown receives second bid from PE consortium for £5.4bn

Hargreaves Lansdown receives second bid from PE consortium for £5.4bn

Led by CVC Capital Partners

Cristian Angeloni
clock 18 June 2024 • 1 min read
Tatton sets £30bn AUM target following 13.9% rise in revenue

Tatton sets £30bn AUM target following 13.9% rise in revenue

£17.6bn AUM in 2024

clock 18 June 2024 • 1 min read
Trustpilot