Judge Blocks MFS CEO’s Pick to Oversee Unit of Failed Lender

A London court blocked a bid by the chief executive officer of collapsed property lender Market Financial Solutions Ltd. to have his preferred officials oversee the insolvency of one of the group’s entities.

On Friday, Judge Catherine Burton refused to allow Paresh Raja’s proposed administrators BTG Begbies Traynors and Coots & Boots take control of Pearl Bridging Ltd., saying she was concerned it was “almost like an administration by the back door.”