London's High Court has authorized the sale of eight supercars belonging to Paresh Raja, founder of collapsed bridging lender MFS, as part of asset recovery efforts. The court varied a worldwide freezing order on Raja's assets, allowing the sale of luxury vehicles worth £1.625 million to repay creditors. Raja faces allegations of fraud related to MFS's multibillion-pound mortgage business collapse, which he denies.

The collection includes at least three Aston Martins, two Mercedes, six Ferraris, and three Rolls-Royces, though documents suggest more vehicles exist. European Prestige UK Limited, an Orpington-based luxury dealer, will purchase the vehicles. The Ferrari 512M, manufactured in 1995 and painted classic red, is among the cars being sold to financial scandal history enthusiasts.

Creditors of MFS, including Apollo's Atlas unit and Barclays who extended £2.6 billion in loans, face a £1.3 billion shortfall in security backing. The sale will distribute £1,613,960 to Raja's solicitors Mishcon de Reya and £11,040 to Windrush Car Storage for fees. Unlike creditors with collateral in secure facilities, lenders now wish they had similar security for their loans.