Amigo Creditor Plan to Be Backed Despite FCA Concern: Shore (1)

(Updates share price, adds Goodbody comment.)

Amigo Holdings’ “scheme of arrangement” is set to be approved by creditors on Wednesday, and will likely later be sanctioned by a court, despite opposition from the Financial Conduct Authority, Shore Capital predicts in a note to clients.

• The comments come after the payday lender’s stock plunged as much as 41% Tuesday on news the FCA will oppose the scheme
  • Stock trims decline to 22% at 4pm in London, headed for biggest slump in about eight months
• “We doubt that a court will go against the wishes of creditors, especially when the majority voting ...