The compensation he has never, ever had a problem with

Giovanni di Stefano Solicitor

Speaking outside the Old Bailey, Palmer's solicitor Giovanni di Stefano said: "Judge Gordon has granted a substantial certificate for an immediate appeal."

But Mr Di Stefano made it clear that there would be no appeal against the compensation to the "genuine" timeshare owners.

He said: "The compensation he has never, ever had a problem with. He was paying compensation to the supposed losers in this timeshare situation in Tenerife."

Palmer has been given three years to pay, but the first �20m will have to be paid within two years.

The 52-year-old from Bath was jailed for eight years after being convicted last May of conspiracy to defraud.

Complex web

If he fails to meet the payments, he faces a further 11 years in jail.

Palmer nicknamed "Goldfinger" after being acquitted of handling gold from the 1983 Brinks-Mat bullion robbery.

He then went to Tenerife where he masterminded a massive timeshare fraud, involving an estimated 17,000 holidaymakers.

Using a complex web of companies, he and his associates targeted both new and existing timeshare customers.

New customers were told that the timeshare would be rented out for high amounts, thus virtually paying for the timeshare itself.

In fact, the company made no attempts to rent the apartments out.

When victims realised they had been duped, Palmer's complex web of companies made it impossible for them to get a refund.