Administrators Update 21st May 2020 (L)

It would seem that no one knows what the Administrators are referring to regarding the legal issue that was resolved.

There has been no clarification or further information, even on this forum, which is very unusual. 

Can the LAG shed any light on what it is that has been resolved and more importantly, was it in favour of the investors ?

I do hope it was a defeat for the greedy waterfall arrangement that LB (and his now defunct brainchild of Lendy) inserted to the T & C so he could sit back and laugh at all the investors whilst reaping vast gains from defaulted loans.

It is now no surprise that LB and his team let so many loans simply run and run into long default period - as it led to Lendy being able to gobble up a vast chunk of anything that gets recovered at the cost of the investors.

It is wisdom after the event, but looking back now it seems such an obvious scam - all approved by the FCA and very soon before the Lendy yacht hit the rocks and sank, unfortunately not with Captain LB still onboard.