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Brecqhou twin ordered to pay out £100m following divorce battle

Brecqhou twin ordered to pay out £100m following divorce battle

Saturday 08 May 2021

Brecqhou twin ordered to pay out £100m following divorce battle


Brecqhou twin Sir Frederick Barclay has been slammed by a High Court Judge for ignoring orders to put the proceeds of a luxury yacht sale towards his divorce payments - with the billionaire instead keeping the money for himself.

Mr Justice Cohen ordered the reclusive business mogul to pay his estranged wife, Lady Hiroko Barclay, £100m as part of divorce proceedings.

The Guardian reports that Barclay, 86, breached a court order to put the money from the sale of a luxury yacht towards divorce payments. The newspaper also reports that Barclay sought to prevent publication of the divorce proceedings. Lady Hiroko - to whom he was married for 34 years - argued for the judgment to be made public.

Journalists were allowed to attend earlier stages of proceedings, but not report on them at the time. 

“Part of [Barclay’s] available assets included a luxury yacht which was on the market for sale,” said Mr Cohen in his ruling this week.

“I made orders intended to control the sale and the use of the proceeds. He completely ignored those orders, sold the yacht and applied the equity for his own use. I regarded that behaviour as reprehensible.”

In a statement, Sir Frederick said: “I am saddened that after 34 years my marriage has come to an end. This was not something I wanted. I hope my former wife can find happiness. I wish her well.”

brecqhoubarclays.jpg

Pictured: There had been speculation about the fate of Breqhou.

The decision follows speculation over the fate of the Barclay brothers’ island haven, Brecqhou.

The combination of the recent death of Sir David following a "short illness" in January, family feuding, and the divorce proceedings for Sir Frederick, had together raised the question of whether the island might be sold off if the pair’s assets had to be divided up.

The reclusive twins - who last year had a combined wealth of £7 billion - bought 32-hectare Brecqhou in 1993 and built their own fortress-come-mansion on the small Channel Island.

Alongside his late brother, Sir Frederick previously owned the Ritz, before the famed London hotel was sold last year, leading to a family feud that resulted in court proceedings.

The case involved allegations that Sir David’s sons had bugged the Ritz conservatory in what was described in court as “commercial espionage on a vast scale."

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