Connect to pay Additional $240 million to investors in collapsed Woodford Finance
The latest supply, which is due to be paid on or around Aug. 26, takes the whole amount of cash returned to investors through the sale of its assets to 2.45 billion pounds.
"It is supposed that further funding distributions will be created as and when suitable amounts of cash have been increased from the sale of the remaining assets of the Fund," Link said, while warning investors the resources were less liquid and sales may take a while.
"This usually means that the method will drag on for much longer for investors, who only wish to get as much of the money back as possible and proceed from the sorry saga," AJ Bell analyst Laura Suter stated.
The LF Equity Income fund, which once enjoyed the backing of investment platform Hargreaves Lansdown (HRGV.L), was suspended from June 2019 later it was unable to fulfill requests for investor following a period of underperformance.
($1 = 0.7628 pounds)
The latest supply, which is due to be paid on or around Aug. 26, takes the whole amount of cash returned to investors through the sale of its assets to 2.45 billion pounds.
"It is supposed that further funding distributions will be created as and when suitable amounts of cash have been increased from the sale of the remaining assets of the Fund," Link said, while warning investors the resources were less liquid and sales may take a while.
"This usually means that the method will drag on for much longer for investors, who only wish to get as much of the money back as possible and proceed from the sorry saga," AJ Bell analyst Laura Suter stated.
The LF Equity Income fund, which once enjoyed the backing of investment platform Hargreaves Lansdown (HRGV.L), was suspended from June 2019 later it was unable to fulfill requests for investor following a period of underperformance.
($1 = 0.7628 pounds)