Lifeboat Fund Pays Out £13.5M To London Capital Customers

Law360, London (July 31, 2020, 3:20 PM BST) -- Britain's bankruptcy compensation scheme has said it is ramping up the rate at which it is paying out claims to customers who lost money in the high-profile collapse of investment firm London Capital & Finance.

The Financial Services Compensation Scheme said Thursday that is has paid out over £13.5 million ($17.8 million) in compensation over 844 decisions to customers who invested in LC&F before it went bust in 2019.

"We have increased the rate at which we are issuing decisions to LC&F customers," the FSCS said. "And we expect the volume of decisions to increase further in the coming months."...

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