Investor FAQs

Scheme of Arrangement

The High Court sanctioned Amigo’s Scheme of Arrangement in May 2022 to enable an equitable distribution of redress to all Amigo Scheme creditors with a valid claim against Amigo associated with past lending practices.

The Scheme included both a ‘Preferred Solution’ and a ‘Fallback Solution'. For the Preferred Solution to go ahead, Amigo needed to return to lending by 26 February 2023 and complete a successful capital raise by 26 May 2023. While Amigo was able to return to lending, the Board has concluded that it will not be possible to raise the required funds by the deadline. It has therefore switched to the Fallback Solution, which is an orderly wind-down of the business.

The Fallback Solution requires that the trading subsidiary, Amigo Loans Ltd (“ALL”) stops lending with immediate effect and is placed into an orderly wind-down, with the result that all surplus assets after the wind-down are transferred to the Scheme creditors. In due course, ALL will be liquidated.