Brecqhou billionaire's ex-wife pauses prison push after mystery "proposal"

Tuesday 14 February 2023

The latest set of court proceedings between Brecqhou billionaire Sir Frederick Barclay and his ex-wife were adjourned yesterday after the retired mogul made a "proposal."

The High Court was due to hear an application by Lady Hiroko Barclay "for the committal to prison" of her former spouse of 34 years - the latest step in a long-running divorce row.

It started in 2021, when Judge Sir Jonathan Cohen ruled that 88-year-old Sir Frederick Barclay should pay Lady Barclay lump sums totalling £100m.

Lady Barclay, who had petitioned for divorce on the grounds of unreasonable behaviour, subsequently returned to court to claim that Sir Frederick had not paid a penny of the money owed – despite allegedly having access to funds through a complex web of offshore trusts. 

In August 2022, the court heard that the £245,000 had been paid, but that there was "still no plan for payment" for the full £100m.

The latest round of legal proceedings, a public hearing in the Family Division of the High Court, was due to be overheard today by Sir Jonathan Cohen yesterday. According to national media reports, the case was listed as an "application by Lady Hiroko Barclay for the committal to prison of Sir Frederick Hugh Barclay."

However, Sir Jonathan Cohen adjourned proceedings until March 6 after a barrister representing Lady Barclay told him that Sir Frederick had made a “proposal”. Details of that proposal were not provided.

Pictured: The castle built by the Barclay brothers on the Channel Island of Brecqhou. 

The FT reported that Stewart Leech KC, representing Lady Barclay, said she would not take any further enforcement action before that hearing - including a petition to declare Sir Frederick bankrupt, which could lead to confiscation of his assets, enabling debts to be paid.

Sir Jonathan said it was “absolutely essential” that Lady Barclay was “properly provided for”, and said that it was "unlikely this case will go away until that time."

Urging the former couple to "reach a full agreement", he agreed to delay a sentencing hearing.

Mr Barclay is one of the 'Barclay Twins', a pair of British billionaires said to be worth £7 billion prior to Sir David Barclay's death in 2021. The pair purchased the Channel Island of Brecqhou, off the Coast of Sark in 1993.