Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
shutterstock_44616835
June 4 2019

Lendy investors launch action group to ensure ‘fair representation’

Marc Shoffman Industry News, News Bruce Hattersley, Financial Conduct Authority, Lendy, peer-to-peer, property

DISGRUNTLED Lendy investors have set up an action group to ensure they are treated fairly by administrators of the collapsed peer-to-peer lending platform.

The property P2P lender went into administration at the end of May after months of speculation about its future.

Hundreds of investors have joined the Lendy Action Group (LAG) which aims to act as a point of coordination, work collectively to recover funds, be a voice to the administrators, regulators and press and to consider further opportunities such as legal action.

“The focus of the LAG will be to ensure that investors are treated fairly in the administration and ancillary regulatory processes” Bruce Hattersley, one of the LAG’s founders, said.

“We want to give investors affected by the collapse of Lendy a collective voice and ensure their views and concerns are heard throughout the entire process.”

RSM has been appointed as administrator and has written to investors to say their accounts remain open but funds cannot be withdrawn due to the ongoing restriction on payments from the Financial Conduct Authority (FCA).

The FCA has been keeping a close eye on Lendy’s activities in recent months, and confirmed in April that it had placed restrictions on the platform.

Just last month, a number of senior staff departures led to speculation that the company could be breaking up.

In early May, Lendy’s co-founder Liam Brooke and former chief operating officer Robert Kelly launched a new company which offers cash advances to employees.

Zopa says fintech revolution has killed off monogamous banking Alternative & Receivables Finance Forum

Related Posts

Lee Birkett

Industry News, News, Property, Top 3

eMoneyHub expects to have reached profitability

Jamie Jolly, MD, SoMo

Industry News, News, Top 3

SoMo gets a Jolly managing director

Deal. business man shaking hands with effect global network link connection and graph chart of stock market graphic diagram, digital technology, internet communication, teamwork, partnership concept

Industry News, News, Property, Top 3

Blend Network expects more partnerships

Popular posts:

  • Everything we know about the CBILS successor scheme (so far)
  • Investors ready to put more money into P2P lending
  • RateSetter outlines benefits of debt consolidation loans
  • LendInvest bond value lost £5.8m during pandemic
  • Peering into the crystal ball: Industry predictions for 2021
  • British Pearl nears completion of portfolio sale
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by