The Barclay family has regained ownership of The Telegraph after paying £1.2bn in debts owed to Lloyds Banking Group.
The high street lender said repayment had been made in full, meaning both The Telegraph and The Spectator magazine have been released from receivership.
Court proceedings brought on behalf of Lloyds against the Barclay family in the British Virgin Islands, which would have liquidated one of their key holding companies, have also now been called off. A hearing had been scheduled for Monday.
The move effectively ends Lloyds’ involvement in the complex sale of The Telegraph and The Spectator, with ownership of both titles spinning back to the Barclay family.
Wonder if that means they’re to start paying invoices again? Wouldn’t mind getting my last £250.