High Court claim against Reform treasurer’s company thrown out

A Dutch businessman has had a High Court claim against Reform UK treasurer Nick Candy’s company thrown out by a judge.

Candy Ventures Sarl (CVS), a portfolio of companies founded by Mr Candy, sued Robert Bonnier in 2022 over allegations he “lied” to “deceive” CVS into investing around 7.5 million euros (£6.5 million) in Aaqua BV, which Mr Bonnier directs.

In November last year, a High Court judge ruled that Mr Bonnier lied “repeatedly and determinedly”, and ordered that the entrepreneur pay more than £4.6 million in damages.

As part of that claim, CVS was granted a worldwide freezing order against Mr Bonnier in July 2022, preventing him from dealing with his assets, but this was discharged the following month.

Mr Bonnier then sued CVS in September 2022 over claims that the WFO caused him and his companies’ loss by reducing the value of Aaqua, something CVS denied.

At a hearing on April 17, lawyers for CVS asked a judge to “strike out” Mr Bonnier’s claim as it had “no real prospect of success” and because the businessman had breached court orders.

Barristers for Mr Bonnier opposed the bid but in a ruling on Monday Mr Justice Butcher threw out the claim “on the basis of very significant and continued breaches of the court’s orders”.

He continued that throwing out the claim was not “disproportionate”, adding “justice does not necessitate” giving Mr Bonnier “another chance”.

The judge also found that CVS was being “to a significant extent prejudiced” by having the claim “hanging over them” with “no clarity as to when it might come to trial”.

He added that he could not be “optimistic” that allowing the claim to continue “will promptly put the case back on track”.

A spokesperson for Mr Candy said that he welcomed the ruling, describing the claim against CVS as having “no proper basis”.

CVS had previously sued Mr Bonnier over allegations he “duped” it into investing in Aaqua, which he said would be the “next Facebook”.

This led to CVS swapping shares in podcasting firm Audioboom for “worthless” shares in Aaqua in 2021.

The company asked a judge at a trial last October to rescind the investment or order Mr Bonnier and Aaqua to pay £5.7 million in damages.

In November, Mr Justice Bright found that Mr Bonnier made false representations to secure investment in Aaqua, and that CVS was entitled to £4,623,919 in damages, as well as interest.

Mr Bonnier was then declared bankrupt at a specialist insolvency court in December.

At the hearing earlier this month, Ian McDonald, for CVS, said Mr Bonnier and his companies “have had enough chances” and that the claim “is doomed to failure”.

He said: “The court cannot know when or if they will take any last chance that might be given to them.”

Hermione Williams, for Mr Bonnier and his companies, asked the court for “one final chance” to take the case to trial, which she said could be worth several millions of pounds.

She also said court orders had not been complied with due to a “lack of funds”, adding that throwing out the claim due to not complying with court orders was not a “proportionate or appropriate response”.