Businessman Sir Frederick Barclay is waiting for a judge’s ruling after being accused of being in contempt of court as a result of failing to pay tens of millions of pounds he owes his ex-wife.
Sir Jonathan Cohen is expected to decide whether Sir Frederick, 87, is in contempt on Thursday afternoon.
He began considering the latest stage of a dispute over money between Sir Frederick and Lady Hiroko Barclay, 79, at a public hearing in the Family Division of the High Court in London earlier this week.
Lady Barclay has asked the judge to hand Sir Frederick a jail sentence.
She says Sir Frederick has breached orders after being told to pay her more than £100 million following the breakdown of their 34-year marriage, and is in contempt of court.
Lady Barclay told Sir Jonathan that Sir Frederick has the means to pay but is aiming to “string things out” until “one or other of us dies”.
Sir Frederick disputes her allegations.
He says he does not have access to funds, and says money is held in trusts.
The Barclay brothers were among the UK’s most high-profile businessmen, with business interests including Telegraph Media Group and The Ritz hotel in London.
Sir David died in January last year, aged 86.
Lady Barclay says “loan notes” were at Sir Frederick’s disposal, and her lawyer told the judge they were worth £545 million.
She also argues that he has an interest in Brecqhou, in the Channel Islands, where Sir David Barclay lived.
Lawyer Marcus Dearle, who is based at Miles Preston and represents Sir Frederick, has told the judge in a written statement that “all steps” had been taken to raise money owed.
He said it had become clear there were “only two viable routes” to try to raise the lump sums: Sir Frederick could try to sell his interest in the island of Brecqhou and/or attempt to redeem loan notes issued by two trusts.
“All steps have been taken to try and raise the lump sums and ensure Frederick’s compliance with the order,” he said.
“However, as the court will see, despite his best attempts, Frederick has not yet been able to raise the lump sums.
“Frederick is currently being financially supported entirely by his daughter Amanda, by way of a loan and payments by way of gifts.”
Sir Jonathan had earlier ruled that Sir Frederick should pay Lady Barclay sums totalling £100 million after overseeing their fight over money.
The judge criticised Sir Frederick, saying he had behaved in a “reprehensible” fashion.
He said the businessman had sold a luxury yacht and “applied the equity for his own use”, in breach of orders.
The judge said Lady Barclay had wanted £120 million and Sir Frederick had made an offer which might have led to her getting nothing.
Sir Frederick had been ordered to make two £50 million payments.
