KBF back in business soon?

Troubled legal lender Key Business Finance (KBF) could be back in business within weeks – but money already paid to KBF would remain in the hands of its administrators.

Gazette sources said KBF’s management team is looking to buy out the business and is seeking financial backers.

Although the new business would be able to offer new loans, sources said KBF would leave its existing loan book with administrators Ernst & Young.

Ernst & Young has informed solicitors who paid deposits for KBF loans that they are now creditors of KBF – meaning these deposits could be lost.