Payday lender saves more time in insolvency to pay

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Law360, London (Aug 12, 2021, 4:07 p.m. BST) – A London judge gave collapsed payday lender QuickQuid another year to wrap up its administration on Thursday, after its directors said dealing with customer complaints turned out to be more complex than expected and had suffered unforeseen delays.

High Court Judge Michael Briggs said in a remote hearing that there was a “crushing case” for the administration of CashEuroNet UK LLC, which operates as QuickQuid, to be extended by a further year until October 24, 2022. He also gave the directors until March 14 to declare a dividend. The court had previously ordered that he be paid by September.

The deadlines had …

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