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Bank says it has withdrawn proceedings against former Telegraph owners Aidan and Howard Barclay at high court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 an 11th-hour agreement with HSBC over more than £140m in overdue debts.

At a high court hearing on Tuesday, a lawyer for Europe’s biggest bank said it was seeking to dismiss the petitions 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.