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not long befpre 1p
what game 88e
Dear Fred,
We understand that you did not vote on Amigo’s recent proposed Scheme of Arrangement (Scheme). We’d like to take the opportunity to apologise if you felt there was insufficient information or a lack of communication from us in the past, especially around the Scheme. This is a key action for us to fix as a priority, starting with the following information.
Amigo continues to face a situation where there is a real possibility of us entering into an insolvency process. Following the High Court’s decision not to approve our proposed Scheme, and our decision not to pursue an appeal, we are discussing with our regulator, the Financial Conduct Authority, what we do next. The judge suggested that we should try to amend the scheme and this is one option that we are considering.
Given this, we are actively considering what a different scheme of arrangement could look like and thought it might be helpful to provide some further information in relation to why Amigo proposed a scheme. This should help you understand its relevance for you, and our other past and present customers. We have summarised the key areas and it should only take a few minutes to read.
Warm regards, Amigo Loans
What is a Scheme of Arrangement?
A scheme of arrangement is a court approved process which aims to provide a solution if a company can’t pay all its debts.
Why did Amigo propose one?
Amigo proposed a scheme in light of the large number of customer complaints regarding irresponsible lending. These complaints were submitted in the hope of getting compensation. Compensation may be given to a customer if their complaint is a ‘valid claim’. Amigo does not have enough money to pay compensation for all the valid claims and would therefore go into an insolvency process. If Amigo was to go into insolvency, there would be no cash left for customer compensation. This is because there are other creditors (such as our bondholders, employees and IT providers) that would need to be paid before customers with a valid claim.
That being said, we believe a scheme is the best way for Amigo to be able to provide fair and equal cash compensation for customers.
Gary, our Chief Executive, provides a little more detail in this short video, just click here.
https://www.youtube.com/watch?v=UrAC4pJH9iQ
For further FAQs regarding the Scheme, please see our dedicated Scheme website.
How would you know if you have a valid claim?
A valid claim means a customer would have sufficient reasoning and/or evidence that they were provided with an unaffordable loan, at the time it was paid out.
amigo will go down
another coning game by SS.
he has to go then ukog will get some where.
i am glad i sold with lost.
gl all
it is simple BOD of amigo lied.
end of the month sub 1p then bust.
The bottom line. The business looks like it's taking the rights steps to turn itself around. However, this process is likely going to take several years, even with the most optimistic outcomes. Therefore, I'm sceptical that the Amigo share price is going to recover in 2021.
Tax evasion oh boy big problem.
is this some kind a joke.
IF SS stays ukog go bust.
he fk it right up.
i will be out soon as the market open.
what mass up by this guy can not be trusted any more.
gl all
waith for taxTax Investigations to get amigo BOD.
ha ha
i am in as soon as market open.
i told you
sando boy friend on top of his face.
dont knock.lol
send your rocket trollhunter.
fuel up
gl
turkey putting so much billion in oil and gas.
turkey is bridge code.
ukog has big chance.
https://www.tandfonline.com/doi/abs/10.1080/15567030903078202?journalCode=ueso20
https://www.trade.gov/energy-resource-guide-turkey-oil-and-gas
brombard are you from tang wisky.
i mean tunbridge wells.
just to know
thanks