Investors in the collapsed Woodford Equity Income Fund are set to receive a share of £230 million after a High Court judge approved a redress scheme.
In a statement, Judge Jonathan Richards said the scheme would be ratified at the end of February after more than 93% of those who voted backed the scheme.
A call to get the fund’s manager Woodford Investment to boost the amount to be made available was rejected by the judge.
Opponents of the scheme said the amount being paid out was inadequate and failed to reflect failures in the way the fund was liquidated by Link Fund Solutions or the opportunity costs since the fund was suspended.
One of the opponents, The Transparency Task Force, said it was considering an appeal.