"Telegraph Heirs Escape Bankruptcy in £140m Debt Settlement In a last-minute reprieve, the Barclay brothers, former owners of the Telegraph Media Group, have dodged bankruptcy after reaching a settlement with HSBC over a staggering £140m in overdue debts. The news comes as a relief to the brothers, Aidan and Howard Barclay, who had faced a high court showdown with the European banking giant. The settlement marks a significant turn of events for the brothers, who lost control of the Daily and Sunday Telegraph in 2023 after failing to pay £1.16bn in debts owed to Lloyds Bank. The brothers' financial woes have been a long-standing issue, and this latest development suggests that they may be able to breathe a sigh of relief after a tumultuous period."
Bank says it has withdrawn proceedings against former Telegraph owners Aidan and Howard Barclay at high courtThe former owners of the Telegraph have avoided bankruptcy after reaching a settlement with HSBC over more than £140m in overdue debts.At a high court hearing on Tuesday, Europe’s biggest bank said it had withdrawn proceedings against Aidan and Howard Barclay, whose family lost control of the Daily and Sunday Telegraph in 2023 over £1.16bn of unpaid debts owed to Lloyds Bank. Continue reading...
