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I can only see good news going forward. No way are GJ and the Board going to let the FCA scupper this after all the brilliant hard work they have done to repair Amigo. I don't honestly think the FCA can do anything next Wednesday anyway but I suspect that GJ etc will be talking to them and appease them before the Court sanction of the SOA in any event. I believe all the fences have been jumped and we now have a small hurdle to jump to get to the winning line
I've just had a thought - if the FCA had opposed the scheme initially that could well have influenced people and meant a NO vote so I wonder if this was done deliberately to get the scheme through but save face if the s..t hits the fan later??
Also, do the FCA actually have any legal standing as far as the SOA goes? They are just a regulator and can only put forward their views which they did in March - it doesn't look good a regulator changing their mind just because the creditors voted in favour of the scheme which is the only information we have at the moment
The FCA have been 100% aware of who is eligible to vote from day one - they were also aware that the votes of past customers would count for more in monetary terms as the loans had all been settled. All this information has been perfectly clear from day one.
I 100% accept this objection is purely because Amigo notified them of the vote results and they thought they had better make some representation just in case there is backlash at a later stage. If I was the Judge I would say that they had plenty of time to object to the scheme prior to the first Court hearing and didn't so their objections are now totally invalid and a case of closing the stable door after the horse has bolted.
What I took from that ISA is that (as far as I understand it) there won't be a next hearing if the vote is NO - I could be wrong but to me that was a very positive indication from the Judge (although I appreciate he is impartial)