Candy brothers win £132m court case after acrimonious trial

Property tycoons the Candy brothers have won a £132m high court case brought by a former friend and business associate whose claims of harassment and intimidation have been quashed.

Mark Holyoake sued Nick and Christian Candy over a £12m loan they made to him in 2011 to fund a central London property development. The Candys claimed Holyoake defaulted on the loan when the deal ran into trouble but he alleged they set out to ruin him and intimidated him and his wife.

At the high court Mr Justice Nugee dismissed Holyoake's claim and found in favour of the Candys. He said Mr Holyoake did not have assets of £120m as he had claimed, meaning the brothers were justified in treating the loan as in default.

But the judge criticised the brothers, known as the "Brothers Bling" for their ostentatious lifestyles, and Holyoake after an acrimonious nine-week trial in which Holyoake and other witnesses made lurid allegations about the Candys' tax affairs and other business practices. The brothers denied the allegations.

"None of the protagonists emerge from the trial with great credit," Nugee said. "Each has been shown to have been willing to lie when they consider their commercial interests justify them doing so."

The judge accepted that Christian Candy had threatened to take a "wrecking ball" to Holyoake's assets but decided the threat was not unlawful.

The brothers, who told the court they were worth a combined £600m, admitted their reputations were damaged by the trial. Nick Candy told the court: “Even if you find us completely innocent, [for] the rest of our lives there is going to be a slight smell.”

In a statement after the judgment the brothers said: "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.”