A company linked to Baroness Mone and her husband Doug Barrowman passed most of the money it received from the government for personal protective equipment (PPE) to other firms, according to a spokesperson for Mr Barrowman.
On Wednesday a judge ordered PPE Medpro to repay £122m as the gowns it supplied did not meet sterility certification standards.
However, £83m of that was paid to other companies and there was a "very strong case" for the administrator to chase them for the money, the spokesperson said.
Health Secretary Wes Streeting said his department would seek to "recover everything we can".