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Morses Club to pursue scheme of arrangement as claims rise

(Reuters) - British subprime lender Morses Club PLC said on Wednesday it was pursuing a potential use of so-called scheme of arrangement to deal with the high levels of redress claims that threaten to jeopardise its future.

Morses Club said it would continue to explore other options but alternatives would result in lower amounts for redress claims than under the scheme.

(Reporting by Sinchita Mitra and Yadarisa Shabong in Bengaluru)

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