(March 4): Barclays plc is owed about £500 million by companies associated with Market Financial Solutions Ltd (MFS), one of the biggest exposures to the collapsed UK mortgage lender, a person familiar with the matter said.
The sum owed to London-based Barclays is lower than the £600 million exposure initially described by the judge overseeing the collapse of MFS last week, according to the person, who requested anonymity as details aren’t currently public. The figure compares with the approximately £400 million owed to Apollo Global Management Inc’s Atlas SP Partners unit and about £200 million owed to Elliott Investment Management.
MFS fell into a UK form of insolvency amid serious allegations of fraud, including the alleged double-pledging of assets. Barclays, Atlas, Elliott and Jefferies Financial Group Inc are among a group of Wall Street firms exposed to the collapse of the London-based company.
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