News: LNK UPDATE 1-Judge approves UK redress scheme for Woodford investors

(Adds quote from judgment, details)

LONDON, Feb 9 (Reuters) - A London judge on Friday approved a proposed redress scheme worth up to 230 million pounds ($290.5 million) for around 300,000 investors trapped by the 2019 collapse of a flagship British fund run by once-renowned stock picker Neil Woodford.

"Having considered the matter in detail, I see no reason to gainsay (contradict) the conclusion of the overwhelming majority of scheme creditors at the court meeting," High Court Judge Jonathan Richards said in a judgment published on Friday.

"I will sanction the scheme."

The proposed scheme by Link Fund Solutions (LFS), the former authorised corporate director of the fund, comes after a Financial Conduct Authority (FCA) investigation and three investor groups filed lawsuits over the way LFS had managed the fund.

Any appeal has to be made in writing by Feb. 23, the judge said.