Link says redress scheme for Woodford investors to begin payments in April

Link Administration Holdings

05/03/2024 09:11

LONDON, March 5 (Reuters) - Link Fund Solutions Limited
(LFSL) said its redress scheme for around 300,000 investors
trapped by the 2019 collapse of a fund run by once-renowned
stock picker Neil Woodford, is now formally up and running, with
payments to start early next month.
    The redress scheme was approved by a court last month to
allow up to 230 million pounds to be paid out in redress,
drawing a line under the failure of the Woodford Equity Income
Fund.
    “We are pleased the Scheme has now become effective,
following the approval by the Court and the overwhelming support
of scheme creditors. We have always believed the scheme was the
best option to provide investors with a substantial level of
redress, with certainty of payment in the near future," LFSL
said in a statement.

 (Reporting by Huw Jones, Editing by Louise Heavens)
 ((huw.jones@thomsonreuters.com; +44 207 542 3326; Reuters
Messaging: huw.jones.thomsonreuters.com@reuters.net))