Barclay brothers avoid bankruptcy after deal with HSBC over £143m debt

Bank says it has withdrawn proceedings against former Telegraph owners Aidan and Howard Barclay at high court

The 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At a high court hearing on Tuesday, Europe’s biggest bank said it had withdrawn proceedings against Aidan and Howard Barclay, whose family lost control of the Daily and Sunday Telegraph in 2023 over £1.16bn of unpaid debts owed to Lloyds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.