9/11/2023 0 Comments Party bros watters world![]() ![]() Such an unusual public battle for an intensely private family has exposed a wildly complicated financial structure and the perils of borrowing too much to expand. It was that high court appearance – in which the chair of the Telegraph and 100 other companies employing 20,000 people said that business was “not actually easy” and that it was a time of “doom and gloom” – that seems to have acted as the catalyst for bankers unable to reach an agreement with the family over the repayment of debts. ![]() Two years on, he has still not paid, prompting the judge last month to summons his nephew Aidan Barclay, the largest shareholder of the family business, to give evidence and explain where the money was. The two sides only settled after David died, by which time Frederick was facing a £100m order to pay his ex-wife in a divorce settlement. Sir Frederick sued his brothers’ sons, grandson and longest-serving aide, Philip Peters, in the high court for bugging his private conversations over the sale of another trophy asset, the Ritz hotel – a crime he called “commercial espionage on an industrial scale”. After eight decades of success with his once inseparable twin brother, the siblings had fallen out spectacularly over money and succession. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |