Sir Frederick Barclay, who was worth an estimated £6bn back in May, is facing an opportunity of goes to prison aged of 87 after a Supreme Court judge ruled he should stand trial for non-payment of part of a £100 million divorce settlement.
The court heard that former owner of Telegraph Media Group considered filing for legal assistance fight divorce battle with his wife of 34 years.
barclay, who still owns half of in private island of Breakhow and whose family sold the Ritz for approximately £800 million in 2020, now “terrified” of goes to prison for his failure pay £50 million owed to his wife last June.
He was also separately and additionally ordered to pay his wife’s legal costs, reportedly approaching £500,000. The court was told that Barclay’s nephews, sons of its twin brother Sir David Barclay, getting paid for his legal fees, but not those of his wife.
In evidence, Stuart Leach QC, for Hiroko Barclay, legal said playing the field was uneven. “She owes her lawyers over half a million pounds sterling, and Sir Frederick Barclay owes practically nothing to his lawyers.
Earlier this year, the court was told that Barclay also “unilaterally halved” maintenance payment of Every month £60,000 is awarded to his wife.
The court heard that Barclay, who started life as a painter and decorator with his brother access his fortune, which he owns in complex series of trusts.
Neither Barclay nor his brother David who died last year were beneficiaries of in family trusts that are essentially divided between Barclay’s daughter Amanda and three of Sons of David Barclay.
At the Supreme Court hearing, it was stated that Barclay said he had no control over complex structure of trust. “I have nothing,” he said.
Both Lady Barclay, 78, and Barclay appeared in court via en online link on Thursday, but the judge ruled that both parties must appear in human in three day hearing in July, since non-payment is quasi-criminal offense.
Lawyers representing Barclay said he would defend Lady Barclay’s statement.
Scott Young property boss one of several men be committed prison for contempt of court for non-payment of divorce order while he was in jail for for six months in 2013.
In March, the court was told that Barclay had been evicted from his home. home. His lawyer, Charles Howard QC, told the court that “he has no money and his bank statements… show what.”
Sir Jonathan Cohen, who hears the case, criticized Barclay in his final order last May, saying he behaved in “reprehensible” manner during an argument after he sold his luxury yacht and “used for his own use” in violation of orders.
During Thursday’s hearing, the Guardian filed an application for the documents in complex case will be transferred to media before the trial, which was largely successful.