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Client accuses Savills of confidentiality breach in Candy brothers dispute Client accuses Savills of confidentiality breach in Candy brothers dispute
(about 3 hours later)
Savills, the estate agent to London’s elite, is facing accusations that it breached client confidentiality during a bitter battle between the billionaire Candy brothers and a former business associate.Savills, the estate agent to London’s elite, is facing accusations that it breached client confidentiality during a bitter battle between the billionaire Candy brothers and a former business associate.
The company has received a demand to hand over evidence including text messages and emails relating to an acrimonious legal dispute between the property tycoons and Mark Holyoake.The company has received a demand to hand over evidence including text messages and emails relating to an acrimonious legal dispute between the property tycoons and Mark Holyoake.
Holyoake has applied to the high court for disclosure of the documents with a view to launching a separate lawsuit against Savills, seeking compensation for alleged misconduct including breach of confidentiality, the Guardian understands.Holyoake has applied to the high court for disclosure of the documents with a view to launching a separate lawsuit against Savills, seeking compensation for alleged misconduct including breach of confidentiality, the Guardian understands.
Any such lawsuit could prove embarrassing for Savills, which has a reputation for upholding high standards of discretion about the assets and financial affairs of its wealthy clientele.Any such lawsuit could prove embarrassing for Savills, which has a reputation for upholding high standards of discretion about the assets and financial affairs of its wealthy clientele.
Holyoake is expected to claim that Savills knowingly passed on to Christian and Nicholas Candy a copy of a valuation he paid it to perform on his luxury home in Ibiza.Holyoake is expected to claim that Savills knowingly passed on to Christian and Nicholas Candy a copy of a valuation he paid it to perform on his luxury home in Ibiza.
This, he will allege, gave the brothers information about his assets that helped them exert financial pressure on him.This, he will allege, gave the brothers information about his assets that helped them exert financial pressure on him.
Holyoake has accused the pair of extorting him into making £37m of payments, via various penalties and renegotiated loan agreements, on a £12m loan arranged by his former university friend Nicholas Candy.Holyoake has accused the pair of extorting him into making £37m of payments, via various penalties and renegotiated loan agreements, on a £12m loan arranged by his former university friend Nicholas Candy.
He is suing them for £132m in a separate, unresolved lawsuit concerning the loan.He is suing them for £132m in a separate, unresolved lawsuit concerning the loan.
During that case, evidence emerged that Holyoake will claim indicates Savills acted improperly. Emails submitted as evidence show Nicholas Candy became aware of the valuation following a lunch with Savills’ director of valuation, Michael Sharpe-Neal, after which he emailed details of it to his brother. During that case, evidence emerged that Holyoake will indicate that Savills acted improperly. Emails submitted as evidence show Nicholas Candy became aware of the valuation following a lunch with Savills’ director of valuation, Michael Sharpe-Neal, after which he emailed details of it to his brother.
“Even more worrying I have just had lunch with Michael Sharpe-Neal,” he wrote, in an email sent in February 2012. “There is not enough security on the house to cover the £12 million loan!!!”“Even more worrying I have just had lunch with Michael Sharpe-Neal,” he wrote, in an email sent in February 2012. “There is not enough security on the house to cover the £12 million loan!!!”
Nicholas Candy testified during the case that he had obtained the valuation, saying: “I can’t remember whether I was offered it by Savills or whether I asked for it. But either way, I acknowledge it was wrong.”Nicholas Candy testified during the case that he had obtained the valuation, saying: “I can’t remember whether I was offered it by Savills or whether I asked for it. But either way, I acknowledge it was wrong.”
Christian Candy also testified that he had seen the valuation during a case that concluded earlier this year, with a verdict not expected until October. Christian Candy testified that he had seen the valuation during a case that concluded earlier this year, with a verdict not expected until October.
He was asked if the Savills valuation was “plainly a confidential document which you should never have been provided” and answered: “Yes.”He was asked if the Savills valuation was “plainly a confidential document which you should never have been provided” and answered: “Yes.”
Holyoake wants Savills to turn over any further correspondence that could lend weight to his claim that the estate agent improperly disclosed its €16m (£15m) valuation of his Ibiza property, called Casa Campanilla.Holyoake wants Savills to turn over any further correspondence that could lend weight to his claim that the estate agent improperly disclosed its €16m (£15m) valuation of his Ibiza property, called Casa Campanilla.
Holyoake will highlight a close working relationship between the Candys and Savills, including the estate agent earning a £10m commission on their One Hyde Park development. Holyoake will highlight a close working relationship between the Candys and Savills, including the fact that the estate agency earned a £10m commission on the brothers’ One Hyde Park development.
He will also claim that Savills passed further details about the Ibiza home, including a floor plan and photographs, which he will say were not publicly available and posed a security risk to him and his family.He will also claim that Savills passed further details about the Ibiza home, including a floor plan and photographs, which he will say were not publicly available and posed a security risk to him and his family.
During his long-running dispute with the Candys, Holyoake alleged that Christian Candy physically threatened his pregnant wife, which the property tycoon strenuously denied.During his long-running dispute with the Candys, Holyoake alleged that Christian Candy physically threatened his pregnant wife, which the property tycoon strenuously denied.
The businessman will also allege that Savills acted against his interests by passing on information about a valuation of Grosvenor Gardens House, a luxury development he says the Candy brothers hoped to “steal” from him in lieu of loan repayment. The businessman will allege that Savills acted against his interests by passing on information about a valuation of Grosvenor Gardens House, a luxury development he says the Candy brothers hoped to “steal” from him in lieu of loan repayment.
He will say this, coupled with a delay by Savills in completing the valuation, frustrated his attempts to seek refinancing of his £12m loan from the Candys and helped them extract higher repayments from him.He will say this, coupled with a delay by Savills in completing the valuation, frustrated his attempts to seek refinancing of his £12m loan from the Candys and helped them extract higher repayments from him.
Holyoake will also allege that Savills further breached his confidentiality by telling Nicholas Candy that a cheque he paid to the estate agent had bounced. Holyoake will allege that Savills further breached his confidentiality by telling Nicholas Candy that a cheque he paid to the estate agent had bounced.
An email submitted as evidence in the previous case against the Candys shows Nicholas Candy saying “Ned”, understood to be Ned Baring, a Savills director, had told him about the bounced cheque.An email submitted as evidence in the previous case against the Candys shows Nicholas Candy saying “Ned”, understood to be Ned Baring, a Savills director, had told him about the bounced cheque.
The request for document disclosure from Savills is a procedural step that usually comes before a further legal claim.The request for document disclosure from Savills is a procedural step that usually comes before a further legal claim.
Holyoake is understood to believe that any documents turned over by Savills will form the basis of a claim for financial redress, including compensation for the alleged breaches of confidentiality.Holyoake is understood to believe that any documents turned over by Savills will form the basis of a claim for financial redress, including compensation for the alleged breaches of confidentiality.
Savills is thought to have refused a request to disclose the documents voluntarily, but declined to comment when contacted by the Guardian. Sharpe-Neal also declined to comment.Savills is thought to have refused a request to disclose the documents voluntarily, but declined to comment when contacted by the Guardian. Sharpe-Neal also declined to comment.