Payout for Farepak customers
Monday 26th April 2010, 9:39AM BST.
Farepak customers are to receive an estimated 15p for every pound they lost in the collapse of the Christmas savings club in 2006, it has emerged.
The proposed payout comes after the company’s former directors, who have not admitted liability, agreed to pay £4 million in compensation.
While the figure is a tenth of the £40 million lost by 120,000 former customers, the 15p in the pound is higher than previously forecast.
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