Update: Market Chatter: Barclays, Bank of Baroda Among Creditors Seeking $1 Billion From UAE Exchange

09:59 AM EDT, 10/23/2026 (MT Newswires) -- (Updates with Fidera's response in the fifth paragraph.) Barclays (BCS), Bank of Baroda and other creditors are seeking to recover debts from collapsed remittance provider UAE Exchange, which has an estimated $1.03 billion deficit in net assets, Bloomberg reported Friday. Thirty-six creditors have filed claims in the company's bankruptcy proceedings, including Abu Dhabi Commercial Bank and London-based hedge fund Fidera, the report said. A Dubai appeals court upheld UAE Exchange's bankruptcy proceedings on Wednesday, Bloomberg reported, adding the process will determine how much creditors can recover. UAE Exchange, once one of the largest businesses of former UK fintech group Finablr, halted transactions in March 2020 amid a cash shortage at the group, which followed a crisis at hospital operator NMC Health, the report said. Fidera declined to comment when contacted by MT Newswires. Barclays and the UAE Exchange did not immediately respond to MT Newswires' request for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.) Price: 21.53, Change: -0.48, Percent Change: -2.18