read the decision25 May 2021 09:20
1.Lawyers required for the customers because they aren't financially savvi
2. Amigo to propose the SOA and for the scheme creditors to decide whether or not to accept them
Then the SOA would be agreed, so whilst its a no, then this is a simple process to follow, looks like the current board tried to shortcut it as opposed to following a transparent process, also, the letter from the FCA stated "no objection" previously , thats because the FCA doesn't negotiate SOA terms, thats down to Amigo and creditors.
Wonder if the board are up for the fight, remember they lost nothing other than their bonuses today, and with 200M in cash in the bank, they are in a good position to "follow the process"