MFS founder accuses administrators of ‘internecine warfare’

Paresh Raja, founder of collapsed mortgage lender Market Financial Solutions (MFS), has accused administrators of pursuing overlapping and competing claims against him in what his lawyers describe as “internecine warfare,” asking the High Court to consolidate five proceedings exceeding £1.5 billion into a single coordinated process as administrators seek to recover funds following the lender’s February 2026 collapse amid allegations of double-pledged property collateral and more than £1.1 billion owed to institutional lenders.

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