Gama Aviation’s troubles multiplied on Friday as the private jet operator, which is being sued by a former director, revealed it is losing its finance chief.
The AIM-listed firm, which manages private jets for tycoons such as Topshop entrepreneur Sir Philip Green, said Kevin Godley has resigned.
He will remain at the company until January and is leaving to join a private equity firm.
Shares fell 13p to 220p earlier.
It marks the latest blow for Gama which faces a High Court claim from Dustin Dryden, an entrepreneur who merged his business with Gama in 2014. He left the company less than a year later.
The battle started in November 2016, when Gama sued two companies linked to Dryden and alleged it had suffered losses due to Dryden’s conduct. Dryden has filed a £6 million counter-claim.
The cases will be heard next June.
Gama, which had been privately-owned, reversed into Dryden’s stock market-quoted Hangar8. It only told investors of the legal fight after it was revealed in newspaper reports.
Gama then took out an injunction forbidding newspapers from naming most of its clients.