Phil Wyatt faces legal action over Goldtrail

Phil Wyatt faces legal action over Goldtrail

Former XL Leisure boss Phil Wyatt has been served legal papers by Goldtrail liquidators PricewaterhouseCoopers, the accountancy giant has confirmed.

The Daily Telegraph reported last night that Wyatt is accused of providing "dishonest assistance" to Goldtrail’s sole owner, Abdulkadir Aydin, who placed the company into administration in July 2010.

PwC would not confirmed the move to serve papers on Wednesday this week when contacted by Travel Weekly but after the story broke it has said the papers were filed with the Chancery Division of the High Court.

The 20-page document is understood to set out the case PwC has built against Wyatt over the last two years investigating the collapse of Goldtrail as administrators of the Scottish operator Globespan.

Goldtrail's collapse in July 2010 cost the Air Travel Trust Fund £24 million. Its failure just ahead of the peak summer season took industry regulator the CAA by surprise and played a major role in the collapse the following month of Flight Options (Kiss Flights) at a cost of a further £19.4 million.

Along with two associates from another of his businesses, Black Pearl Investments,  Wyatt has been accused of advising Aydin on the removal of funds from Goldtrail and the transfer of deposits to an offshore bank account in the Seychelles five months before the administration.

The Daily Telegraph now understands that PwC, led by Ian Oakley-Smith has served Wyatt with an order to appear in court and is waiting on a response.

PwC is seeking a total of  £4 million, with £1.4 million being sought from Wyatt. It is also thought another Turkish airline is being pursued.

Aydin is accused of breaching his fiduciary duty and making unlawful dividend payments. However, PwC has so far been unable to serve court papers on the Turkish businessman, according to the report.

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