The Financial Services Compensation Scheme has warned that it will reject many claims relating to the failed £236m mini-bond firm London Capital & Finance (LCF).

The Financial Services Compensation Scheme has pledged that it will continue to review the cases of thousands of victims of the London Capital and Finance (LCF) £236m mini-bond collapse.

Law firm Shearman & Sterling has applied for a judicial review into the FSCS’s handling of compensation for victims of the £236m London Capital & Finance mini-bond firm.

The Financial Services Compensation Scheme said today it has made the first pay-outs - totalling just under £2.7m - to 135 victims of the LCF mini-bond firm collapse.