The UK mortgage company MFS's liquidators have obtained a worldwide asset freezing order against the company's owners.

The administrator responsible for the wind-up process of the UK mortgage lender Market Financial Solutions Ltd. has obtained a global asset freeze order against the company's owner, Paresh Raja. MFS had previously borrowed over 2 billion from Wall Street financial institutions. A spokesperson for AlixPartners, the bankruptcy restructuring firm appointed by creditors to oversee MFS's insolvency process, stated that the freeze order has been approved by courts in London and Dubai. MFS, headquartered in London, had borrowed from Wall Street banks and investment firms such as Barclays and Apollo Global Management Inc.'s Atlas SP Partners. The company collapsed on February 25th amid allegations of misconduct. Creditors have since stated that they could face losses of at least 1.3 billion.