Arch cru victims unlikely to get global funds settlement

Investors embroiled in the CF Arch cru funds scandal are unlikely to benefit from a global compensation settlement, despite several MPs campaigning on their behalf, according to a government minister.

MPs had been pushing for a global negotiated compensation settlement between the financial regulators in London and Guernsey and the insurers of the parties responsible in both jurisdictions as the best way of compensating investors. Many of the thousands of investors who lost an estimated £140.5m when the Guernsey-based funds were suspended nearly four years ago have been holding out for a better settlement than the two already brokered by the Financial Services Authority (FSA). However, Kevin Stewart, the minister for the States of Guernsey responsible for the finance sector, has in...