Amigo shares plummet 34% amid fears over compensation case

Payday loans

Investors concerned sub-prime lender could collapse if a UK court rejects cap on customer payouts

Amigo shares have fallen more than 34% in one day, amid fears that the sub-prime lender could collapse if a controversial proposal to cap customer compensation claims is rejected by a UK court.

The lender temporarily suspended share trading on Wednesday, ahead of a final court hearing on the rescue scheme, which has been criticised by MPs, debt campaigners and the UK regulator for being unfair to some of the UK’s poorest borrowers. The share price fall happened after trading resumed on Friday morning, pending a final ruling.

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