Former XL Leisure boss Phil Wyatt and two associates have been found liable for a £1.4 million compensation claim brought by Goldtrail Travel liquidator PricewaterhouseCoopers.
Turkish carrier Onur Air was found liable for a similar claim for £3.64 million.
The High Court found all the defendants guilty of giving dishonest assistance to Goldtrail owner Abdulkadir Aydin.
In her ruling, Justice Rose found “abundant evidence” that Wyatt and fellow defendant Magnus Stephensen and Halldor Sigurdarson “were fully aware that they were involved in a transaction that was thoroughly dishonest”.
The court agreed a stay of execution of the judgment, pending the defendants deciding whether to appeal, but awarded costs against the defendants and ordered Wyatt, Stephenson and Sigurdarson to make a payment of £430,000 on account.
Tour operator Goldtrail Travel went into administration in July 2010, costing the Air Travel Trust fund £25 million. The failure left creditors owed £33 million.
Goldtrail owner Aydin did not appear at the High Court. He is reported to be in the Ukraine after transferring more than £10 million to himself and his family in the weeks leading up to the failure.
Liquidator PwC brought a double claim, following a three-year investigation. It sought £3.64 million from Turkish airline Onur Air and £1.4 million from former XL Leisure Group chief executive Wyatt, his business associates Stephensen and Sigurdarson, and Wyatt investment vehicle Black Pearl Investments (BPI).
Counsel for PwC argued the defendants paid substantial amounts to Goldtrail in the weeks before the failure. PwC alleged the payments involved the “misapplication” and “misuse” of deposits for flights and sought “equitable compensation”.
Counsel for PwC argued: “Money that should have gone to Goldtrail went to Mr Aydin.” Wyatt and his co-defendants were also alleged to have given “dishonest assistance” to Aydin.