Retired businessman Sir Frederick Barclay has made a “proposal” during the latest stage of a High Court fight over money with his ex-wife, a judge has been told.

Sir Jonathan Cohen had ordered Sir Frederick, 88, to hand Lady Hiroko Barclay, 80, lump sums totalling £100 million in May 2021, following the breakdown of their 34-year marriage.

Lady Barclay, who had petitioned for divorce on the grounds of unreasonable behaviour, subsequently complained that Sir Frederick had not paid money as ordered – and alleged that he was in contempt of court.

Sir Jonathan had been due to oversee a further hearing in the Family Division of the High Court on Monday.

But he adjourned proceedings until March 6 after a barrister representing Lady Barclay told him that Sir Frederick had made a “proposal”.

Stewart Leech KC said Lady Barclay would not take any further enforcement action before that hearing.

Sir Jonathan said it was “absolutely essential” that Lady Barclay was “properly provided for”.

The judge ruled in July that Sir Frederick was in contempt as a result of failing to pay nearly £245 000 he owed Lady Barclay for legal fees and maintenance.Mr Leech had told the judge, at a follow-up hearing in August, that the sum had been paid.

But Mr Leech said that Sir Frederick remained  “massively in default” and told the judge that there was “still no plan for payment of the £100 million”.

Monday’s hearing was listed as an “application by Lady Hiroko Barclay for the committal to prison of Sir Frederick Hugh Barclay”.

Sir Frederick and his twin brother Sir David were among the UK’s most high-profile businessmen.

Sir David died aged 86 in January 2021.

Their interests included the Telegraph Newspaper Group and The Ritz hotel in London.

The family also has links to the Channel Islands and Monaco.

Mr Leech gave Sir Jonathan no detail of Sir Frederick’s “proposal”.

He had told the judge, in a written argument prepared for Monday’s hearing – before Sir Frederick’s “proposal”, that Lady Barclay had “lost patience”.

Mr Leech told the judge of Sir Frederick’s “abject failure to engage in making any real efforts” to show when he will be able to pay “anything” – and said Lady Barclay wanted him “sent to prison” for contempt.

He said Lady Barclay had “thus far” done “everything she can short of seeking Sir Frederick’s imprisonment”.

Mr Leech also indicated that she might have to look at “other remedies”, including a petition for Sir Frederick’s bankruptcy.