Holly Valance's husband Nick Candy accused of mafia-style threat in court papers

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City property tycoons the Candy brothers are being sued for £132million
They have been accused of 'extortion' and 'threats' in extraordinary case
Wealthy businessman Mark Holyoake is bringing the case in High Court
He fell out with the brothers over a £12m loan to fund luxury development

By Jonathan Petre and Sarah Limbrick For The Mail On Sunday

Published: 17:16 EST, 17 October 2015 | Updated: 06:05 EST, 18 October 2015

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Controversial property tycoons the Candy brothers are being sued for £132 million in an extraordinary case in which they are accused of ‘extortion’ and ‘threats’ – including the suggested involvement of ‘Russians’ who ‘would not think twice about hurting’ the claimant and his family.

Wealthy businessman Mark Holyoake is bringing the case in the High Court after he fell out with Nick and Christian Candy over a £12 million loan they made to him to help fund a luxury property development.

A spokesman for the Candys’ company the CPC Group denies the allegations.

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High-profile: Controversial property tycoon Nick Candy (pictured left with his wife Holly Valance) is being sued, along with his brother Christian, for £132million in an extraordinary case in which they are accused of 'extortion' and 'threats', over a £12m loan to help fund a luxury property development (right)

Mr Holyoake, who says he has known one of the brothers since university, hoped to make more than £100 million on the redevelopment of the Grosvenor Gardens House in Belgravia, Central London, which he bought for about £42 million in 2011.

He has accused the Candys of reneging on the loan deal and pressuring him into agreeing to disadvantageous repayments.

Mr Holyoake alleged the pair plotted to obtain his Belgravia development and substantial sums from him through ‘fraudulent misrepresentation... blackmail, intimidation, and duress’, claims the brothers described as ‘unfounded’.

Certain people, possibly Russians, would not think twice about hurting Mr Holyoake or his family to get what they wanted.

Nick Candy, according to allegations made in court documents

According to legal documents, Nick Candy at one point warned Mark Holyoake, ‘as a friend’, that he must do everything his brother demanded, or he might sell the debt to ‘certain people, possibly Russians, who would not think twice about hurting Mr Holyoake or his family to get what they wanted’.

The claim alleged that in 2012 Christian Candy made aggressive demands for early repayment of the loan.

Holyoake said he had felt under so much pressure he agreed to his terms to escape ‘threats and intimidation’.

He is claiming more than £100 million for his alleged losses on the Grosvenor development, and said his total losses exceed £132 million.

'Threatened': Wealthy businessman Mark Holyoake is bringing the case in the High Court after he fell out with Nick and Christian Candy over a £12 million loan

Alleged plot: Mr Holyoake alleged the Candy brothers plotted to obtain his Belgravia development and substantial sums from him through ‘fraudulent misrepresentation... blackmail, intimidation, and duress’, claims the brothers described as ‘unfounded’. Pictured, Nick Candy with his wife Holly Valance in Mayfair this week

As part of this he is seeking the repayment of £30 million he said he paid in relation to the original £12 million loan in ‘extortionate’ interest charges and other costs. He is also claiming aggravated and exemplary damages.

At a hearing last month, Mr Holyoake lost a bid to have the case expedited and was ordered to pay costs. It is understood that CPC has filed a full defence but at the time of going to press The Mail on Sunday was unable to obtain a copy.

A CPC spokesman said: ‘We reject this desperate and hollow claim as we have all previous attempts by Mr Holyoake to extract money from us. It has no justifiable foundation and will be opposed in its entirety.’