A businessman involved in the window installation industry who claimed that a former associate owed him nearly £27 million has lost a High Court fight.

John Ross, who turned down a £1 million settlement offer from Mitu Misra, has been left to pick up lawyers' bills likely to run into several million pounds.

He claimed that Mr Misra had "reneged on their deal" and said that "betrayal" pushed him into insolvency.

Judge John Kimbell dismissed his claim against Mr Misra on Friday after analysing evidence at a High Court trial in London late last year.

The judge said Mr Ross and Mr Misra had founded Safestyle UK, which floated on the stock market in 2013 and was the market leader in the sale and installation of uPVC windows, in Bradford, in the early 1990s.

Mr Ross said Mr Misra held £26.9 million worth of shares on trust for him.

He said Mr Misra had "orally agreed" to hold the shares a decade ago.

Mr Misra denied that he held shares on trust and denied "any betrayal".

He said the shares were transferred to him under a share and purchase agreement and said Mr Ross had become insolvent due to the failure of other business ventures.

Judge Kimbell said he was satisfied, on a balance of probabilities, that the share and purchase agreement was genuine and intended by both men to be binding.

He said he was "more than satisfied", on a balance of probabilities, that Mr Misra had not promised to hold any Safestyle shares on trust for Mr Ross.

Lawyers had told the judge how at an early stage of the litigation Mr Ross had turned down a settlement offer.

Judge Kimbell said there had been a "£1 million offer in an envelope, which was rejected".

The judge said Mr Ross had failed in his claim and would have to pick up Mr Misra's legal bills plus his own.

Lawyers for Mr Misra told the judge that their total bill was £1.8 million.

The judge said Mr Ross, who is in his 50s and from Leeds, described himself on a Linked-in profile as "an astute and driven businessman".

He said Mr Ross had worked 18-hour days at the height of his involvement with Safestyle, which by 2005 had sales of £100 million a year and 2,300 staff.

The judge said Mr Ross had "led the lifestyle of a millionaire" and had expensive sports cars, a large house, a chauffeur, a farm and a wine bar.

He said Mr Ross had recovered from insolvency in 2010, and was now back in the window-installation business at director level.