Brittany Ferries has been ordered to pay the legal fees of rival firm DFDS and the minister responsible for Jersey's ferry links after its appeal against a tender decision was denied.
The French company argued there had been bias in the way the tender process had been carried out and called for a judicial review, which was denied by the Court of Appeal.
The court's president Sir William Bailhache ruled on 1 April the company had acted too late and lost the appeal '"convincingly".
He ordered Brittany Ferries to pay £40,000 to DFDS within the next 28 days as well as undisclosed court fees of Minister for Sustainable Economic Development Kirsten Morel.