Investors trapped in the failed Woodford fund are expected to get their first compensation payment in April this year, it has been confirmed.
Link Fund Solutions Limited set out the next steps following the final High Court approval needed for the £230mn compensation scheme, published today (February 8).
The sanction hearing took place over two days in January and followed initial approval in December when around 94 per cent of those with money in the fund voted.
A Link spokesperson said: “We are pleased the court has decided to sanction the scheme following the overwhelming support of the scheme creditors who voted on it.
"We have always believed that the scheme will provide investors with a substantial level of redress, and certainty of payments in the near future."
The statement added the firm hopes to start making payments at the "earliest opportunity" and expects the first payments to be made in April.
This depends upon there being no appeal to the judge's decision.
This is something being considered by the Transparency Taskforce which has been campaigning on behalf of Woodford investors.
Link added: "Any appeal would be likely to further delay payments to scheme creditors by at least several months.
“We would like to once again thank all investors who took the time to vote on the scheme and make their voices heard. Our focus is now on implementing the scheme, and providing investors with redress as soon as is possible.”
The scheme is expected to become effective at 9am on March 2.
The ruling from Justice Jonathan Richard today (February 9) said: "Having considered the matter in detail, I see no reason to gainsay the conclusion of the overwhelming majority of scheme creditors at the court meeting. I will sanction the scheme."
tara.o'connor@ft.com
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