Barclays Eyes Over 50% Recovery on MFS as Asset Hunt Uncertain
Creditors have accused MFS of misappropriating hundreds of millions of pounds of mortgage payments.
Photographer: Betty Laura Zapata/BloombergBarclays Plc hopes to get back much of the £500 million ($674 million) it lent to Market Financial Solutions Ltd. even as insolvency officials overseeing the now-collapsed mortgage lender remain uncertain on how much can be recovered.
The London-based bank wrote off £228 million of loans tied to Market Financial Solutions, also known as MFS, in the first quarter, implying a recovery of more than 50%.