https://m.youtube.com/watch?v=-9NgIPLtwSc25 Jan 2021 15:55
“My mum said she’s not in!”
Amigo has today started to notify customers by letter, email and text of the proposed new redress scheme and has launched an online portal on it. However, the scheme still needs to be approved. A High Court ruling is expected on 30 March, which will give creditors permission to vote on the scheme. At least 50% of creditors need to vote in favour, and the total value of their claims must represent at least 75% of the value of the claims of all creditors who vote.
Amigo wants to create a scheme to limit what it pays out as, otherwise, it admits it could go BUST!