Court battle over £1m deposit in Ritz hotel sale 'sting'

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A man named Tony Lee claiming to represent the Barclay brothers offered to sell the hotel to Terry Collins of property group London Allied Holdings in 2006 for £250million. Its market value was £600million.

Mr Collins borrowed £1million from Dutch businessman Marcel Boekhoorn to release purchase papers. But the papers did not exist and Mr Lee was in fact a lorry driver with no connectionsto the Barclays. He and an associate, Patrick Dolan, are alleged to have spent the £1million at once.

In October, Mr Boekhoorn sued Mr Collins for £1million. Mr Collins says he is not liable as he and the Dutchman both made the same mistake in believing Mr Lee was genuine.

At the High Court yesterday Mr Justice Henderson dismissed Mr Boekhoorn's application for an immediate ruling, saying a full trial was needed.