UK’s Wealthiest Property-Developer Twins Found Innocent in $176 Million Case
Flickr/ Images MoneyBusiness21:02 21.12.2017(updated 21:06 21.12.2017) Get short URL202
A major case, centering around a $16 million property loan, has concluded in the defendants’ favor London – along the way, allegations of threats, extortion and forgery abounded.
The British High Court on December 21 judged in favor of the UK’s wealthiest property developers, brothers Nick and Christian Candy, who had been sued by former college friend Mark Holyoake for $176 million (£132 million).
Mr. Holyoake had allegedly defaulted on a $16 million (£12 million) loan made to him by the Candy brothers for the funding of a luxury development at Grosvenor House in the center of London, and claimed the pair had resorted to blackmail, intimidation and extortion to recover the value of the loan, amounting to a “long-running, highly unpleasant and malicious campaign of threats, abuse, intimidation and coercion directed at himself and his family,” including Holyoake’s pregnant wife and unborn child.
Over the course of the trial, during which details of the Candy brothers’ luxurious lifestyles were made public, Mr. Holyoake claimed threats had even been made by Christian Candy against his pregnant wife.
”None of the protagonists emerge from the trial with great credit. Each has been shown to have been willing to lie when they consider their commercial interests justify them doing so,” the presiding judge, Justice Nudgee commented according to the Estates Gazette.
According to the Candy brothers in a statement following the conclusion of the trial, the proceedings had shown Mr. Holyoake and his “accomplices” to be “well-practiced liars and forgers of documents.”
“It has taken a great deal of time and effort to win this case and it has caused unwarranted damage to our personal and business lives. The claim should never have been brought. We look forward to time more positively spent with our families and in our respective businesses,” they added.
At the trial’s conclusion Holyoake was required by the court to repay half of the Candy brothers’ US$15 million (£11.4 million) legal fees resulting from the two-year legal battle by January 11.