The two brothers who control the Daily Telegraph newspaper and the Barclay business empire were ordered to attend London’s High Court to answer questions about their uncle’s ability to pay his ex-wife in their £100 million ($120 million) divorce.
(Bloomberg) — The two brothers who control the Daily Telegraph newspaper and the Barclay business empire were ordered to attend London’s High Court to answer questions about their uncle’s ability to pay his ex-wife in their £100 million ($120 million) divorce.
Aidan and Howard Barclay, the nephews of octogenarian tycoon Frederick Barclay, were issued with a witness summons by Judge Jonathan Cohen. Frederick owes his ex-wife the vast sum but is yet to pay her a penny, saying he’s being stymied by his nephews who won’t free up the cash.
The judge ordered the two nephews to give evidence on the “means” of Frederick to pay her by the end of March unless by that time, there had been a settlement of the divorce award. Barclay was ordered in 2021 to pay his former spouse the £100 million in one of the largest awards the UK’s courts have ever seen.
“It has appeared that their enthusiasm to engage in correspondence with Sir Frederick and his advisers has been less than whole-hearted and I wonder if this might be a way forward to assist,” the judge said Monday.
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Frederick Barclay says he can’t pay the money he owes to his former wife, Hiroko, after the breakdown of their 34-year marriage. He’s argued that all efforts to raise funds have been frustrated by his daughter and nephews who took control of the group after a fallout with Frederick’s late twin brother David.
The Barclay holdings include the Daily Telegraph newspaper as well as delivery service Yodel and online retailer The Very Group. Aidan is by some way the largest shareholder of the group.
A spokesman for the two couldn’t immediately comment.
Barclay is discussing a financial settlement, his lawyers have said previously, after being threatened with a bankruptcy.
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