June 21 (Reuters) - An independent assessment by Ernst and
Young reiterated on Monday that subprime lender Provident
Financial's doorstep lending unit will likely face
insolvency if its 50-million-pound settlement plan is not
endorsed by a UK court.
Provident said on Monday that the division, which lent to
people who are turned away by mainstream banks, was placed into
a managed run-off last month, after a surge in customer
complaints against it. Rival Amigo's rescue plan was
rejected by the court in May.
(Reporting by Muvija M in Bengaluru; editing by David Evans)
