Amigo Considering Financial Options, Including Insolvency

UK subprime lender Amigo Holdings said today it was considering all options for the company including a revised scheme of arrangement or insolvency, after a court last month rejected its rescue plan, RTÉ reported. Amigo said in a statement that it was continuing to engage with the UK Financial Conduct Authority to find a way forward. However, based on the expected volume of complaints from current and past customers, the value of Amigo's assets would be less than its liabilities without an appropriate scheme of arrangement to deal with complaints, it said. Read more.