Key facts
- Administrators for MFS have filed a High Court claim against Barclays.
- The claim alleges Barclays is withholding over £160 million.
- The funds are reportedly held in accounts belonging to MFS.
- Barclays has confirmed it will defend the claim.
- MFS was a collapsed mortgage lender.
- The legal action concerns funds allegedly refused to be returned by Barclays.
Administrators for the collapsed mortgage lender MFS have filed a High Court claim against Barclays, asserting that the bank is withholding more than £160 million. This sum is reportedly held in accounts belonging to MFS. Barclays has acknowledged the claim and stated its intention to defend itself against the allegations. The legal proceedings stem from the insolvency of MFS, a company operating within the mortgage lending sector. The core of the dispute revolves around Barclays' alleged refusal to release the substantial funds held on behalf of the defunct lender. The administrators are seeking the return of these assets through the court system. Barclays' confirmation of its defense indicates a significant legal battle ahead concerning the disposition of MFS's assets.