Overview
- AlixPartners, appointed by the High Court, made 156 of 203 staff redundant and began examining suspected fraud at the Mayfair lender.
- The court-ordered investigation follows filings from Amber Bridging and Zircon Bridging that flagged serious irregularities and potential double use of collateral.
- Reported exposures include around £600m linked to Barclays, Apollo’s Atlas confirming £400m, Jefferies about £100m, and TPG £44m, with market selling hitting several lenders.
- More than £2.5bn of investor money is under review, with reports indicating potential losses for retail participants as well as institutions.
- Sources and filings indicate Barclays’ freeze of routine banking services precipitated the collapse, while some MFS-linked assets are also subject to an NCA freezing order tied to Bangladesh property transactions.