The latest stage of a long-running legal battle between one of the UK’s highest-profile businessmen and his ex-wife has been called a “charade” by a high court judge after another delay. Sir Frederick Barclay, 88, owned a number of interests in media, retail and property, with his late brother, Sir David Barclay. Earlier in the year, he was ordered to pay his ex-wife, Hiroko Barclay, who is also in her 80s, lump sums totalling £100m after the breakdown of their 34-year marriage. The judge overseeing the dispute, Sir Jonathan Cohen, was told in two hearings earlier this week by an adviser to Frederick Barclay that people were waiting for money to arrive in an account. But on Friday, Stewart Leech KC, the barrister who is leading Lady Barclay’s legal team, told the judge that money had still not arrived. Cohen said: “Charade”. Leech replied: “That is our impression as well.” Max Turnell, the barrister representing Frederick Barclay, said money was being borrowed. “Sir Fredrick is borrowing money from another loaning party,” he told the judge. “That loaning party has borrowed the money from a lender.” He added: “It is not something that is in our control.” Cohen said he had adjourned hearings on the basis that a settlement was in the offing. “I have been told on four or five occasions that this case needs to be adjourned because there is a deal that is about to come to fruition,” said the judge. “At the moment I don’t have any certainty that it is ever going to happen.” He added: “I have been told on countless occasions over the last few months that this is all happening … and every time it doesn’t happen.” The pair’s fight over money began more than two years ago. In May 2021, Cohen had ordered Barclay to hand his ex-wife lump sums totalling £100m after the breakdown of their 34-year marriage. Cohen, who has been told that the money has yet to be paid, said then that Barclay had behaved in a “reprehensible” fashion during the litigation. The judge was told on Tuesday that the pair had been “trying to resolve the matter” and needed more time. He was told on Wednesday that money had yet to arrive in an account. Hiroko Barclay, who petitioned for divorce on the grounds of unreasonable behaviour, has complained her former husband had not paid her as ordered, and alleged that he was in contempt of court. Cohen subsequently ruled that Frederick Barclay was in contempt as a result of failing to pay about £245,000 he owed his former wife for legal fees and maintenance. The Barclay brothers’ interests included the Telegraph Media Group and the Ritz hotel in London. The family also has links to the Channel Islands and Monaco. Cohen has been told that David Barclay’s sons Aidan and Howard Barclay now have day-to-day responsibility for “group business”. In June, it emerged that the Daily and Sunday Telegraph and the Spectator magazine were likely to be put up for sale after talks between their owners and lenders collapsed. It came after the Barclay family denied that the business could face administration.