Craig Whyte appealed after being ordered to pay more than £17 million to Ticketus earlier this year.
He asked Deputy High Court Judge David Halpern QC to overturn the ruling, made by a more junior judge, at a hearing in London.
But Judge Halpern dismissed his appeal.
Ticketus said Mr Whyte fraudulently or negligently made representations which induced the company to enter into agreements related to the sale or purchase of Rangers season tickets, and claimed damages.
Mr Whyte disputed the claim.
But in April a High Court master ruled against Mr Whyte prior to a trial after Ticketus argued that the former Rangers boss had "no real prospect" of mounting a successful defence.
The master ordered Mr Whyte to pay £17.6 million.
Lawyers for Mr Whyte appealed and argued that the master's decision to grant a "summary judgment" had been unfair.
They said the case should be allowed to go to trial and said Mr Whyte had a "realistic" defence.
Judge Halpern heard evidence and legal argument at the High Court in London in November.
In his ruling today, Judge Halpern said the master was entitled to give "summary judgment".
He said he would have reached the same conclusion.
Judge Halpern said Mr Whyte must pay all the legal costs of the appeal - a sum thought to total tens of thousands of pounds.