FCA has published a letter that it wrote to Amigo Loans confirming that it does not plan to attend the hearing to oppose the proposed Scheme of Arrangement. It thinks the new proposals are preferable to the ones in the previous failed proposal. It notes that creditors have not yet voted and reserves the right to intervene.
FCA has also confirmed that the firm may be able to recommence lending under certain conditions, if the Scheme is sanctioned by the Court. Any permitted recommencement of lending would need to be limited in volume while the firm convinced FCA that it meets regulatory standards.