Tycoon to appeal in battle over takeover

Judge Hazel Marshall QC said the "manipulative, calculating, ruthless and utterly self-interested" businessman unlawfully conspired to take over Goldthorpe-based Hoyland Fox and "ousted" its owners.

Mr Hinchliffe's assets are currently frozen while lawyers decide how much he should pay in damages to Shaun Smith and his family, who ran the firm.

Mr Smith has said he is seeking "millions of pounds" after the Mozaic company, owned by Mr Hinchliffe's wife Marjorie, bought Hoyland Fox with the Smiths and then attempted to remove them as directors.

Yesterday, Mr Hinchliffe, of Hope, Derbyshire, said: "To talk about damages is a nonsense – where are the damages? They talk about financial loss but, in fact, there's been a financial gain."

The Smiths – brothers Shaun and Alex and their parents Keith and Elaine – said they had taken on Mr Hinchliffe as an "advisor"and Hoyland Fox was bought on their behalf. Mr Hinchliffe, meanwhile, said the company was in fact being bought 50/50 by his wife and the Smiths.

Relations between the two sides soon broke down. Mr Hinchcliffe claimed the Smiths were running the company "very badly", prompting him to try and appoint three new directors.

When that happened, the Smiths then took money and stock out of Hoyland Fox, putting it into administration.

Judge Marshall said Mr Hinchliffe was not motivated by solving "financial irregularities" but rather "malevolence towards the Smiths."