Holyoake v Candy: Summary of the case

Dismissing Mark Holyoake's claim against Christian and Nick Candy, Mr Justice Nugee gave the following summary of his full 200-page judgment:

In July 2011 Mr Mark Holyoake contracted, in the name of Hotblack Holdings Ltd (Hotblack), a company ultimately owned by him, to buy Grosvenor Gardens House (GGH), a substantial Victorian mansion block on the edge of Belgravia, for £42m, with the intention of converting it back from low-grade offices to high-class residential use [1]-[3].  

When the time came to complete the purchase he did not have the necessary money and asked Mr Nicholas Candy, a close friend

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