Billionaire Barclays Settle Bitter Family Feud Over Ritz Bugging
Billionaire Barclays Settle Bitter Family Feud Over Ritz Bugging
(Bloomberg) -- The billionaire Barclay family settled a bitter legal fight that revealed a family torn apart by taped conversations in London’s Ritz hotel, a hidden camera and private investigators.
Frederick Barclay and his daughter Amanda, settled the suit with his nephews, according to a statement from the family. One of his nephews said they bugged the five-star Ritz that the family sold and taped the pair’s conversations. The settlement amount wasn’t disclosed.
“We are pleased that as a family we can put this difficult period behind us and now look forward to our future together,” the family said in a joint statement. “In these troubled times, unity within families is more important than ever.”
The Financial Times reported the settlement earlier on Friday.
The settlement comes months after Frederick’s twin brother, David Barclay, died. Last month, Frederick was ordered to pay his former wife 100 million pounds ($141 million) as part of one of the biggest London divorce pay-outs in history.
The family’s legal woes have opened a window into the relationship between the publicity-shy twins whose investments put them among the top ranks of the U.K.’s rich and powerful.
The brothers spent decades avoiding media attention by isolating themselves on an island in the English Channel. They are best known as owning the U.K.’s Daily Telegraph newspaper.
Last year, David’s sons agreed to pay damages for misuse of private information and breaches of confidence. They denied the claim that they conspired to injure any business or financial interest of their uncle and cousin, which was set to be determined at trial this summer.
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