Amigo trading halted

AMIGO Loans has suspended trading in its shares ahead of a hearing that could allow it to start lending for the first time in more than a year.

The payday lender said it had taken the step over concerns that market-sensitive information could be released during a High Court hearing about its proposed financial plan, which would offer £97m to creditors. The share price has fallen by more than 66pc over the past year.

If the court approves the scheme of arrangement, it would mark a turning point for Amigo.

The company has faced complaints from consumers who accused it of failing to check whether their loans were affordable.