The following information is relevant for the customers of the following companies:
A scheme of arrangement (the “Scheme”) is being proposed for the purpose of assessing and paying compensation claims against Provident Personal Credit Limited ("PPC") (which traded under the brand names Provident, Glo and Satsuma) and Greenwood Personal Credit Limited ("Greenwood") for unaffordable lending. The Scheme would cover customers to whom loans were given by Provident, Glo, Satsuma or Greenwood, or who may have guaranteed a loan from Glo, between 6 April 2007 and 17 December 2020.
It is important that customers take the necessary action if they believe they may have a claim as failing to do so may result in customers not receiving compensation.
The following timeline shows the indicative key Scheme dates and what action you need to take.
The Voting Portal is now open for voting on the Scheme. If you wish to vote on the Scheme please complete the claim form, as this will help assess the value of your vote and this will mean that you will not have to submit another claim if the Scheme is implemented. The Virtual Scheme Meeting is on the 19th of July, which is where your vote will be valued.
If you do not want to submit a vote you will still be able to submit a claim if the Scheme is implemented and which is expected to be in August 2021 if it is approved by Creditors and the Court.
You will have 6 months to submit a claim before the final deadline for claims which we expect will be in February 2022. We will advertise the exact deadline date if the Scheme is implemented.
You can find a copy of the Scheme Document, including an Explanatory statement that explains in detail how the Scheme works, in the key documents section of this site and which can be accessed by clicking here. You can also request a free copy of the Scheme Document by calling us on 0800 056 8936.
We’ve developed a range of videos to help you make your decision when voting for the Scheme. You will also find “How to” guides to voting and making a claim.