Even if Mark Holyoake’s allegations against him and his brother are ultimately rejected, Nick Candy fears he and brother Christian will still be tainted by the case.
He told the High Court today that even if he “is found innocent” in the proceedings, “for the rest of our lives, there is going to be a slight smell”.
Nick was being cross-examined by Holyoake’s lawyer, Roger Stewart QC, on the latest day of the trial in which Holyoake is suing the Candy brothers for more than £100m. He is claiming they “coerced” him out of millions of pounds after Christian’s CPC Group lent him £12m to buy Belgravia mansion Grosvenor Gardens House in late 2011.
The Candy brothers strongly refute the allegations and say that Holyoake was an unreliable creditor who lied to them from the start. They say that Holyoake’s allegations of coercion are fabricated.
Stewart quoted emails sent by Nick saying “it’s time to get dirty and play at his level”.
“What did you mean by that?” Stewart asked.
“I meant it’s time to litigate,” Candy replied, adding it is “not in my nature” to resort to illegal measures.
He denied calling Holyoake to say Christian planned to sell on his debt to Russian debt collectors.
He said it was an amicable discussion in which he said his brother was considering syndicating the loan.
“These allegations are horrendous. They are disgusting. I never threatened Mark,” he said.
“Has there been commercial pressure? Yes. Did I threaten Mark? No. I have never ever, ever, ever threatened Mark Holyoake, his wife, his kids… it’s not how I act… it’s not who I am.”
Candy admitted finding out the value of Holyoake’s home in Ibiza from an agent who had done a recent valuation.
He said he did this because he felt responsible for the unsecured loan and he wanted to help his brother.
“I felt guilty because I had put my brother into this loan,” he said. “He needed security.”
“I acknowledge 100% that it was quite wrong to have that valuation”, he added.
The trial continues.
