This week we learnt that Wonga has appointed debt management company Capquest Group legal boss Bill Flynn as its new general counsel.
Flynn’s appointment follows two senior departures from the pay-day loan company’s in-house team. In June 2014 general counsel Lucy Vernall quit to join internet lender Funding Circle.
Vernall is understood to have reported directly into legal vice president Justin Hubble, who oversaw Wonga’s legal function. Hubble has now also left the business, less than a year after joining from Betfair where he was legal director.
Wonga hit the headlines last year after sending letters threatening legal action from non-existent law firms to around 45,000 customers, leaving open to £2.6m of compensation claims.
In the end Slaughter and May was drafted in to advise Wonga on a voluntary agreement with the Financial Conduct Authority, which saw it write off £220m of debt from around 330,000 customers.
Also on TheLawyer.com:
- The inside track on EDF’s Energy’s legal team
- Dentons, Herbert Smith Freehills, King & Wood Mallesons and Slaughter and May among eight firms to pick up spots on £12 Financial Services Compensation Scheme panel
- Investment and asset management company Triangle appoints Berwin Leighton Paisner senior associate Liron Meister as first general counsel