NEWS ROUND-UP


Goldtrail liquidators set to pay creditors by April


Ian Taylor


The Goldtrail Travel liquidation should finally end in April after almost 12 years, with the PwC liquidators notifying creditors to submit outstanding claims by February 14. A ‘final dividend’ will be paid


within two months of that date, ending a process which began when Atol-holder Goldtrail entered voluntary liquidation in July 2010. The failure cost the Air Travel


Trust, which underwrites Atol protection, up to £25 million. It transpired Goldtrail owner Abdulkadir Aydin had left the country after transferring £10 million to himself and, in his absence, the liquidators sought to recover funds from those subsequently found to have “dishonestly assisted” Aydin. The liquidators brought claims


in 2014 against Turkish airline Onur Air and a group referred to as ‘the BPI defendants’ – former XL Leisure


Phil Wyatt


Group boss Phil Wyatt, associates Magnus Stephensen and Halldor Sigurdarson, and Wyatt investment vehicle Black Pearl Investments. Wyatt and his associates had been involved in a series of failures, including the collapse of XL Leisure in 2008 which, at the time, was the only failure to have cost more than Goldtrail’s. The High Court found for the


liquidators and, when the defendants appealed in 2016, the Court of Appeal found they “knew everything


TV STAR: Pictures of Virgin Voyages’ Scarlet Lady were beamed into millions of homes during the first episode of the new series of BBC One’s The Apprentice last week. The show’s two teams were hosted on the ship and given the task of creating a marketing campaign for a new cruise line, comprising a brand, advert and social media ‘tease’. Scenes were filmed across the ship, which contestants had exclusive access to in Portsmouth, where it was based last summer. While industry experts questioned one team’s logo – described by judge Lord Alan Sugar as “the worst I’ve ever seen” – some agents capitalised on Scarlet Lady’s appearance in a bid to drive sales. i Get Social, page 39


8 13 JANUARY 2022


about Mr Aydin’s plan”. However, that did not end the litigation. Onur Air sought to overturn the ruling and resisted an attempt to obtain payment through its assets in Germany before agreeing a settlement in 2018. Two of the three BPI defendants


settled in full, but a third remains outstanding and a bid by the liquidators to claim against a fourth defendant was rejected by the High Court in 2020 and the Appeal Court in 2021. The liquidators succeeded in


recovering £6.7 million – £1.9 million from the BPI defendants and £4.85 million from Onur. But the process cost almost £8.4 million, including £5.2 million in legal fees, and the liquidators report just £1.9 million in ‘funds in hand’ against almost £26 million in claims. The Goldtrail collapse led to the


introduction of ‘Flight-Plus’ Atols to cover separately booked flights and accommodation in 2011, until the 2018 Package Travel Regulations extended package protection to such bookings.


MOVERS & SHAKERS


Mike Tibbert has been sworn in as president of the


Scottish Passenger Agents’ Association. Global Marine Travel’s general manager for Europe succeeds outgoing president Joanne Dooey.


Deborah Wadhams has rejoined Gold Medal


after almost four years at Destinology. She returns as head of product, east, having previously spent 12 years at the operator.


Protected Trust Services has appointed Sarah Ryan


as business development manager in its new membership team.


Not Just Travel has recruited ex-AutoTrader managing


director Marcus Jones as chief revenue officer.


Ewout Smits has stepped in as interim managing director of


Cruise1st after the departure of Dale Sourbutts, who spent eight years at the OTA. Smits runs parent Dreamlines’ Dutch operation.


Sally Balcombe is to step down from her role as chief executive of


VisitBritain/VisitEngland in the spring after seven years. The tourist board is seeking a successor.


travelweekly.co.uk


PICTURE: Strong Island Media/Virgin Voyages


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