Barclay Family’s Swiss Property Sale Raises Bankruptcy Concerns: HSBC Seeks Clarity on Asset Dissipation - BARC.LN

[Para 1: The Lead] HSBC has warned the High Court that the Barclay family’s sale of a Swiss property could jeopardize their ability to recover £140m in unpaid debts. The bank fears the Barclays are delaying bankruptcy proceedings to dissipate assets, citing a sale in April 2025 as a red flag. HSBC is demanding the Barclays declare whether they will contest bankruptcy within two weeks. [Para 2-3: Supporting details & Context] HSBC highlighted that the Barclays’ legal team has refused to assure the bank they will not sell assets, despite HSBC’s concerns. The family, former owners of The Telegraph, has been forced to surrender control of most assets due to borrowing-heavy business deals. The adjournment until March 31 is for discussions on a repayment plan. HSBC is pressing for timelines due to fears of asset dissipation, noting the Barclays’ sale of a Swiss property as a concern since April 2025. The Barclay family’s affairs are complex, but HSBC argues complexity should not hinder repayment plan formulation. The sale of The Telegraph to RedBird IMI is separate from these financial disputes.