Decision to sanction Woodford redress scheme delayed until February

After two-day hearing on 18 and 19 January

Neil Woodford


High court judges have reserved making a decision on Link Fund Solutions Limited’s (LFSL) proposed £200m redress scheme to investors in the former Woodford Equity Income fund (WEIF) until February.

The judge overseeing the case last week over two days (18 and 19 January), Mr Justice Richards, indicated he will aim to publish a draft embargoed judgement to key parties within the next two weeks, expected to be around the 2 February.

Wider publication of the judgement will then follow a week later.

If sanctioned, the scheme is expected to distribute the first compensatory payments in March.

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It comes after 93.7% by number and 96% by value of the 54,000-strong scheme creditors voted in favour of the redress at a scheme meeting in December.  

To pass, the scheme required the support of 75% of investors by value, and a majority in number.

There was no separate vote for institutional and retail investors.

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