Nick and Christian Candy celebrated victory after a judge dismissed entrepreneur Mark Holyoake’s allegations of extortion, blackmail, threats and intimidation.

Ruling against Mr Holyoake, Mr Justice Nugee branded him a liar who had “resorted to forgery, deceit and impersonation” during the case.

But he added: “None of the protagonists emerge from this trial with great credit.

"Each has been shown to have been willing to lie when they consider their commercial interests justify them doing so.”

Mr Holyoake brought the High Court case over losses he claimed he suffered after borrowing £12million from the property tycoons, accusing them of using threats against him and his family to recover the money.

The Candy brothers, best known for creating the One Hyde Park apartment complex in Knightsbridge, central London, fiercely denied the “disgusting allegations”.

The judge threw out all claims against the brothers of alleged blackmail, fraud, intimidation, duress, undue influence and unlawful interference with economic interests.

Mr Holyoake – who was seeking £132million damages – was ordered to make an interim payment of £5.7million by January 11 towards the brothers’ legal fees, which total more than £11million.

A ruling on the overall costs will be made at a hearing in January.

Mr Holyoake said: “We intend to seek an appeal with immediate urgency.”