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redress creditors would … have faced a very significant shortfall against the worth of the claims into the Scheme.

redress creditors would … have faced a very significant shortfall against the worth of the claims into the Scheme.

It really is difficult to imagine why the FCA may have thought this is an offer that is reasonable.

The FCA said it needed further information about the proposed Scheme on 19 February. A approved at that point, CTL decided it was unlikely to get Plan. It made a decision to appoint administrators and proceed with Arrange B. at the moment it stopped loans that are offering the Wageday Advance web site.

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