Billionaire property developers the Candy brothers have won a three-year High Court case against a former friend.
Businessman Mark Holyoake accused the brothers of extortion, blackmail, intimidation and breach of data protection legislation among lurid allegations about their business dealings. However, Mr Justice Nugee cleared them of all charges.
Holyoake had sought £132m in damages, accusing the brothers of attempting to force him to pay £37m interest on a £12m loan used to develop a London mansion block.
Delivering his lengthy judgment in Holyoake v Candy [2017] EWHC 3397 (Ch), Nugee J said Holyoake ‘was not a naïve consumer’ but ‘a sophisticated borrower’ trying to make a profit from a business venture’, and even though the extension fees on the loan were ‘steep, the relationship between the parties was not unfair’.
