A company led by Isle of Man businessman Doug Barrowman and its partners say they are in discussions with administrators over a settlement with the UK Government.
Earlier this month, Mrs Justice Cockerill handed down her ruling in London, finding against PPE Medpro following a five-week trial.
The UK Government’s Department of Health and Social Care (DHSC) sued PPE Medpro in 2022, claiming the company failed to comply with laws requiring 25 million surgical gowns supplied during the Covid pandemic to be sterile.
The judge ordered the firm to repay £122 million plus additional costs and interest.
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Mr Barrowman previously described the decision as a ‘travesty of justice’ but a spokesman for the consortium of partners involved says it is now looking at how it can settle the matter.
A Consortium spokesperson said: ‘The consortium partners of PPE Medpro are prepared to enter into a dialogue with the administrators of the company to discuss a possible settlement with the government.’
The trial heard the gowns, for which the DHSC paid £122 million, were rejected after inspection in September 2020 and never used in the NHS. They were labelled with a CE mark, denoting compliance with European standards, but no authorised quality assurance body had certified their safety or sterility.
No issues were raised with facemasks supplied by the company.
The £122m gowns contract, alongside an £80.85m deal for facemasks, was awarded after Baroness Mone contacted then Cabinet Office minister Michael Gove in May 2020.
The High Court case is separate to a National Crime Agency investigation into whether the couple committed criminal offences during procurement. They deny any wrongdoing.
Isle of Man company Angelo (PTC) Ltd is among the applicants who sought to appoint administrators to PPE Medpro.
PPE Medpro now has £666,000 in assets after spending £4.3m defending the High Court case.