ABTA is confident it will recoup the money paid out to thousands of holidaymakers who were conned by a gang of fraudsters.
The association paidout more than £1 million after customers of three bogus travel agencies were left empty-handed when the group disappeared with their cash.
When all the fraudsters' assets have been reclaimed by the Crown, holidaymakers who paid with cash or cheque will befirst to receive their money.
Judge Andrew Goymer said: "The individuals will take priority over the trade and corporate bodies. These were decent, law-abiding citizens."
The remaining funds will be divided between ABTA, the Civil Aviation Authority and credit card companies.
ABTA head of finance Mike Monk said: "This is going the way we'd like to see it go. I am confident there will be enough money to cover all our claims but we will have to wait and see."
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