Amigo has fuelled fears among investors that it will fall into insolvency by saying it will not challenge a High Court decision to block its plan to cut compensation payments to customers who were mis-sold loans, the London Times reported. Shares in the guarantor lender fell by as much as 15.6 per cent yesterday after it said that it had decided against pursuing an appeal against last week’s judgment from Mr Justice Miles.

Amigo Holdings Plc said on Tuesday that it was looking at filing for insolvency after a court last week rejected a rescue plan for the subprime lender, Reuters reported. London's High Court rejected the plan, which would have cut compensation payouts to customers for mis-selling loans, sending the company's shares plunging more than 50%. In a statement, Amigo said it would not appeal the ruling. It anticipates delaying its financial results for the year ended March, it added.

Taylor Wimpey Plc is covering repair costs for a defective London housing block that are in addition to provisions it’s made for potentially unsafe legacy developments in the wake of the U.K. cladding scandal, Bloomberg News reported. The housebuilder is addressing fire-safety issues and other problems following persistent complaints that the development has been faulty since it was built.

The U.S. Department of Justice is investigating the market-rattling meltdown of Bill Hwang’s Archegos Capital Management in March, a debacle that left big banks in Europe, Asia and the U.S. nursing more than $10 billion in losses, Bloomberg News reported. Federal prosecutors in Manhattan sent requests for information to at least some of the banks that dealt with the firm. It’s unclear what potential violations or entities authorities are examining.

GFG Alliance is putting seven of its U.K. plants up for sale as it seeks to reach an agreement with Credit Suisse Group AG to stave off insolvencies of some of its units, Bloomberg News reported. Owner Sanjeev Gupta made “significant progress” in weekend talks with the Swiss lender’s asset-management arm to resolve GFG’s exposure with Credit Suisse, the metals group said in an emailed statement Monday. GFG has been seeking to raise new financing to replace some of the $5 billion of loans provided by Greensill Capital since the London-based financial firm collapsed in March.

The British government confirmed plans to charge EU citizens and other foreign nationals to visit, as part of a wider reform aimed at making the border more secure, Politico reported. Home Secretary Priti Patel said on Monday that her department will pass legislation to introduce a new Electronic Travel Authorisation (ETA) that she argued will help the government track with more accuracy the number of people entering and leaving the U.K. It will apply to visitors without a visa or immigration status, except British and Irish citizens.

Financially troubled insurers will be offered more flexibility and clarity on the process of writing down debts to avoid insolvency, under HM Treasury proposals, Insurance Insider reported. The proposed reforms are set out in a consultation now open that would change the existing insolvency arrangements for insurers operating outside the Lloyd’s market. The changes aim to provide greater clarity on the process of writing down debts owed by carriers, to cut costs for the industry and offer greater protection to policyholders.

Britain’s main opposition Labour Party said it will push for a vote in parliament on Monday over support for U.S. plans to introduce a global minimum corporation tax rate, Reuters reported. The U.S. Treasury Department earlier this week said that it would accept a floor of at least 15% during international negotiations, a rate significantly below its proposed 21% minimum for U.S. multinational firms.

Eurostar’s shareholders have pulled together funds from bank loans, deferred payments and from their own pockets to secure a £250million refinancing deal to save the company from bankruptcy, ConnexionFrance.com reported. “This refinancing is a major step towards securing Eurostar’s future,” Eurostar chief executive Jacques Damas said in a statement. Eurostar’s majority shareholder is the French national railway company SNCF, which owns 55% of the company and headed up the refinancing effort. The U.K.

The liquidators of Carillion have struck a deal with a specialist litigation funder to bankroll a £250m lawsuit against KPMG, the collapsed outsourcer’s former auditor, the Financial Times reported. Litigation Capital Management, an Aim-traded litigation funder, said on Wednesday it had entered an agreement with certain Carillion entities to finance a claim in the English High Court over how KPMG conducted its audits of the outsourcing group.