(The Times) - The Barclay family’s matriarch is being called on to cover almost £19 million in debts owed by her son Alistair Barclay.
Deutsche Bank Luxembourg has reportedly applied to the High Court to pursue Lady Reyna Barclay after her son failed to repay a loan agreed in 2022.
Alistair Barclay, 36, is the youngest son of Sir David Barclay, the late billionaire businessman who, with his twin brother Sir Frederick, built a vast privately owned empire. At its height the group controlled the Telegraph newspapers, the online retailer Very and the parcel delivery firm Yodel.
That empire has since unravelled under the weight of heavy borrowing, triggering years of legal disputes involving different branches of the Barclay family. The latest case centres on an £18.7 million loan that Deutsche Bank said Alistair Barclay had failed to repay.
A former motor racing driver, Barclay is being sued by the bank alongside Vauvert Administration LBG, a Guernsey company that acts as trustee for two offshore trusts linked to him. According to court filings, Barclay told the bank that neither he nor the trusts had the means to repay the money.
As a result, Deutsche Bank has turned to Lady Barclay. In evidence submitted to the court, the lender said she had agreed to ensure the trusts could meet their obligations as they fell due.
Court filings from Deutsche stated that “Lady Barclay is independently wealthy and thus capable of fulfilling her promise” to cover her son’s debts.
The bank asked for an expedited hearing, noting that the alleged guarantee is due to expire later next month. Without swift action, it said, pursuing Lady Barclay was its only realistic prospect of recovering a substantial portion of the debt.
Alistair Barclay denied that his mother’s “promise” was binding. His lawyers told the court: “It is unexplained how Lady Barclay could conceivably be liable on her so-called ‘promise’. Parties cannot sue on a bare ‘promise’. The suggestion that the bank can take steps to enforce this ‘promise’ is a ‘non-starter’.”
His lawyers accused Deutsche Bank of using its case against him as a “hook to come after his mother”.
Deutsche Bank is represented by Pinsent Masons. Barclay is advised by Clarion Solicitors. The development was first reported by The Telegraph.
Both parties were contacted. Deutsche Bank declined to comment.
By Isabella Fish
February 1, 2026
