Barclay brothers avoid bankruptcy with HSBC debt agreement
Aidan and Howard Barclay have avoided bankruptcy after reaching a debt repayment agreement with HSBC and other creditors, involving over £140m in overdue debts. The agreement includes an Individual Voluntary Arrangement (IVA), which prevents a 12-month directorship ban and legal disclosure of bankruptcy. HSBC withdrew bankruptcy proceedings following the deal.
Tickers: $HSBC
Topics: bankruptcy Barclay brothers corporate debt debt restructuring HSBC IVA