MFS founder accuses administrators of ‘internecine warfare’ Banking The founder of collapsed shadow bank MFS has accused administrators of “internecine warfare” and harassment as the firm’s creditors fight to unlock billions of pounds in frozen funds, City AM can reveal. Paresh Raja, the chief executive of Market Financial Solutions who has denied claims he siphoned “vast sums” from the mortgage firm, has asked [...]
Revealed: Natwest banked company used by MFS founder to ‘siphon off’ funds Banking Natwest provided banking services to a company allegedly used by the founder of collapsed property lender MFS to divert investors’ cash and “siphon off” funds, City AM can reveal. The bank held the day-to-day account for Twinwin, a company that was allegedly used by Market Financial Solutions founder Paresh Raja to generate fees from clients’ [...]
Barclays in legal battle with MFS administrators over part of £160m holding Banking The administrators of collapsed mortgage lender MFS are taking legal action against Barclays after the bank allegedly refused to hand back millions of pounds sat in its accounts. Alix Partners, which was appointed as joint administrators for Market Financial Solutions in February, filed a High Court claim against Barclays, represented by Latham and Watkins, on [...]
Financial services bankruptcies rise as MFS collapse ripples through sector July 13, 2026 The number of financial services companies entering administration spiked sharply in the first half of 2026 on the back of rising costs and the ripple effects of the collapse of mortgage provider Market Financial Solutions, according to a risk advisory firm. A total of 649 companies across sectors went under across the UK between January [...]
Bank of England unveils Armageddon stress test scenario ‘more severe than the financial crisis’ June 19, 2026 The Bank of England is poised to probe how private markets’ respond to a theoretical financial Armageddon scenario in which stocks plummet and prices soars that industry figures have said is more severe than the global financial crisis. Watchdog officials will scrutinise how alternative asset managers react to the scenario’s five-year downturn in financial conditions [...]