Court hears Goldtrail defendants were victims of ‘fallacy’
The Court of Appeal heard yesterday that former XL Leisure boss Phil Wyatt and his business associates were victims of a “fallacy in the approach” of Goldtrail liquidator PwC when found liable for a £1.4 million claim in 2014.
Wyatt, Magnus Stephensen, Halldor Sigurdarson and Wyatt’s investment vehicle Black Pearl Investments were found liable for the claim resulting from the failure of Goldtrail Travel.
The High Court decided they had given “dishonest assistance” to Goldtrail owner Abdulkadir Aydin, who fled the country after Goldtrail went into administration owing £33 million in 2010.