{"id":97360,"date":"2026-08-04T18:28:08","date_gmt":"2026-08-04T18:28:08","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/97360\/"},"modified":"2026-08-04T18:28:08","modified_gmt":"2026-08-04T18:28:08","slug":"mfs-administrators-sue-barclays-in-effort-to-reclaim-millions","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/97360\/","title":{"rendered":"MFS administrators sue Barclays in effort to reclaim millions"},"content":{"rendered":"

Creditors attempting to recoup assets from MFS are reportedly facing a total shortfall of about \u00a31.3 billion. Barclays, which has said it will defend the claim, first started freezing MFS accounts in November of last year after identifying irregularities. In April, it released \u00a321 million to Grant Thornton following a claim.<\/p>\n

People familiar with the matter say the bank believes it is entitled to use frozen funds to offset other losses, the Financial Times reported<\/a>. Barclays\u2019 exposure to MFS reportedly totalled about \u00a3500 million, and it acted as corporate bank to the company as well as a lender.<\/p>\n

Barclays said it was curbing some lending in April<\/a> after taking a \u00a3228 million hit linked to the MFS collapse. The Financial Conduct Authority (FCA<\/a>) launched an investigation into MFS in March, and the High Court sanctioned the sale of some of MFS founder Paresh Raja\u2019s supercar collection to recoup funds.<\/p>\n

Raja, against whom a worldwide asset-freezing order was granted in March, has denied allegations of fraud and dishonesty in the MFS collapse.<\/p>\n

MFS raised funding from private investors and institutional backers in London and New York. Elliott Management, a prominent US hedge fund, was reportedly among the institutions with significant exposure<\/a> to the lender.<\/p>\n","protected":false},"excerpt":{"rendered":"Creditors attempting to recoup assets from MFS are reportedly facing a total shortfall of about \u00a31.3 billion. Barclays,…\n","protected":false},"author":2,"featured_media":97361,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21264],"tags":[3343,21879,32397],"class_list":["post-97360","post","type-post","status-publish","format-standard","has-post-thumbnail","category-barclays","tag-barclays","tag-market-financial-solutions","tag-mfs"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/117038658786087305","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/97360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=97360"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/97360\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/97361"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=97360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=97360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=97360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}