A multimillionaire used-car salesman was ousted from his £300m company after “a pre-conceived and orchestrated plan” devised by private equity investors that had backed his business, a high court judge has ruled.

Peter Waddell, 60, was forced out as the chief executive of the Kent-based dealership Big Motoring World in 2024 in a coup that resulted in “more-or-less open warfare” at the car seller and caused “unfair prejudice” to the investment company that held Waddell’s majority stake.