Funding Circle Reaches Favorable Settlement in Loan Default Case

Funding Circle Holdings plc has announced a favorable settlement in the legal proceedings involving Azzurro Associates and the personal guarantors of two defaulted loans. This case involved loans originally issued on the Funding Circle platform and later acquired by Azzurro. The resolution follows a payment initiated by the personal guarantors to Azzurro, exceeding the outstanding balance of the defaulted loans.

The settlement reaffirms Funding Circle's stance that the debt was legitimately assigned and payment to Azzurro was justified. Throughout the proceedings, the validity of the loans and personal guarantees was never questioned, and there was confidence that Azzurro would substantiate its claims.