Judge’s order as property brothers face £132m lawsuit

PROPERTY tycoon brothers have been ordered by a judge to disclose if they sell off assets outside the UK worth more than £1 million, as they face a £132 million lawsuit.

Nicholas and Christian Candy are being taken to court by former associate and businessman Mark Holyoake. In his legal claim he alleges they threatened him and his pregnant wife, making references to “Russians” while demanding repayment of a £12 million loan for developing a property in London’s Belgravia.

The brothers deny making threats and say Mr Holyoake breached an agreement.

Anthony Trace QC for Mr Holyoake said he should gain “relief protection”, claiming Nicholas, 43, and Christian, 41, would dissipate assets to avoid having to pay up should they lose next year’s court case.

He said there was evidence one had bought a yacht and placed a London property in his wife’s name.

Mr Trace told the Royal Courts of Justice: “We say these people are not to be trusted. We have already seen dissipation of assets.”

Ewan McQuater QC, representing the tycoons, claimed that any injunction would harm their business.

Mr Justice Nugee made an interim order that the Candys must tell Mr Holyoake of any property dealings in the UK and must give him notice of any foreign transaction worth more than £1 million.

The trial is due to start in February next year.