Thomas Cook Share Discussion Threads

[zen12] 17/9/2019 11:00

Plz don't get personnel (know your shorting this)...! I'd in fact be happy booking with them as the booking are protected so no need to worry..

[hpcg] 17/9/2019 10:45

Those with the CDS just want a mechanism to get paid. Once that happens the bonds might well belong to the counter party. They will wave through whatever is best for them. Pages 27-33 are relevant.

Presumably C15 is a sufficient trigger. C15 is not used much but Alitalia used it to protect its leased slots at JFK. As TCG also flies to JFK I would think the filing is legitimate and similar. I can't imagine that filing for creditor protection is not a trigger so I would think the CDS owners are happy now.

[zen12] 17/9/2019 10:45

Misleading statement, the bookings are still ATA protected...otherwise they wouldn't be taking them!

[mallorca 9] 17/9/2019 10:42

Aarcher

Great post.

OAP's will still be sitting in TCG offices today thinking that it's a safe reliable business to book your holiday with. Sales staff will give them no idea that yesterday they filed for Chapter 11 Bankruptcy in the USA.

Shameful that this can be taking place.

[zen12] 17/9/2019 10:20

Well remember they can reject also after hearing..

[aarcher63] 17/9/2019 09:46

It cant be done and I understand that .. but really they should be stopped from selling packages now. Some people would have no idea of the current turmoil and be booking winter holidays . Im thinking especially OAPs who would think perfectly safe to book. I wonder what sales staff say to them in store? Any warning that this might go into administration next couple weeks ? Its fine for people in the know but some innocent people out there could be badly stung . Its very wrong. Authorities should call a halt right now

[aarcher63] 17/9/2019 09:46

It cant be done and I understand that .. but really they should be stopped from selling packages now. Some people would have no idea of the current turmoil and be booking winter holidays . Im thinking especially OAPs who would think perfectly safe to book. I wonder what sales staff say to them in store? Any warning that this might go into administration next couple weeks ? Its fine for people in the know but some innocent people out there could be badly stung . Its very wrong. Authorities should call a halt right now

[loglorry1] 17/9/2019 09:45

Thomas Cook Files for U.S. Chapter 15 Bankruptcy Protection
By Irene García Pérez and Katie Linsell
(Bloomberg) -- Thomas Cook Group Plc has filed for Chapter 15 court protection in the U.S. as part of a broader debt restructuring for the U.K. travel agent.
The company’s Chapter 15 petition was filed in the Southern District of New York, court papers dated Sept. 16 show. Law firm Latham & Watkins is representing the company, according to the documents.
Chapter 15 of U.S. bankruptcy law shields foreign companies from lawsuits by U.S. creditors while they reorganize in another country. The filing may also trigger the payout of default insurance on Thomas Cook debt.
Read more: Thomas Cook Rescue Under Challenge From Hedge-Funds Plan
The travel agent’s creditors are set to vote on Sept. 27 on a proposed schemes of arrangement, a U.K. court procedure that will allow Chinese investor Fosun Tourism Group to lead a planned rescue of the company.
The case is Thomas Cook Group Plc, 19-12984, U.S. Bankruptcy Court for the Southern District of New York.
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[keifer_1] 17/9/2019 09:22

Customer confidence must be all time low. All main stream media negatively reporting to the public. To be fair, it will effect all airlines...question is, who's next to falter

[mallorca 9] 17/9/2019 09:21

Look's like Mr Turkey may finally be selling out.

[mallorca 9] 17/9/2019 09:02

Oh dear …
talk about a slow death !

[mallorca 9] 17/9/2019 08:05

Mrs Mallorca and I leave for a sunshine break on 1st October - looks like this could go into Administration the previous day.
Will be nice to have cashed in.

[spittingbarrel] 16/9/2019 19:06

6.26% 2022 bonds trading at 8% of par today. Somehow I managed to borrow another 6100 through Interactive Brokers this morning to add to my short.

[hpcg] 16/9/2019 17:49

Friday 27th meeting, Mon 30th hearing, Tues 1 Oct new co or admin. Anyone holding at close on the Friday will be functionally wiped out as any trading on Monday will be on a "we expect no return for existing shareholders".

[loglorry1] 16/9/2019 17:39

The RNS pretty much confirms the HF have blocking votes. Just a matter of time now. I guess giving tcg another weeks grace is courtesy before they pull the plug.

[taha_sirin] 16/9/2019 16:26

I have actually made little money woth trading tc a few times.
for long (sti risky) investment i discovered karyopharm therapeutics (kpti)

[nico115] 16/9/2019 16:22

But it's pre pack Or it's a penny or less Why buy at 4.7p and lose 90pct ?

[asagi] 16/9/2019 16:18

because people were speculating that a pre-pack administration could come along as soon as Wednesday. This gives some speculators the hope that there will be some other resolution delivered in the intervening two weeks.

Asagi (short TCG)

[nico115] 16/9/2019 16:06

Why are we rallying on that ?

[tomboyb] 16/9/2019 16:01

homas Cook Group PLC Confirmation of Scheme Meeting & Sanctions Hearing
16/09/2019 4:00pm
UK Regulatory (RNS & others)

Thomas Cook (LSE:TCG)
Intraday Stock Chart
Today : Monday 16 September 2019

Click Here for more Thomas Cook Charts.
TIDMTCG

RNS Number : 4929M

Thomas Cook Group PLC

16 September 2019

Confirmation of Scheme Meetings and Scheme Sanctions Hearing

16 September 2019 - As part of the process to finalise the full commercial terms between Thomas Cook Group's creditors and stakeholders, the Scheme Meetings and the Schemes Sanction Hearing relating to Thomas Cook Group's proposed recapitalisation will take place on the 27 and 30 September respectively.

The Company continues to target implementation of the recapitalisation in early October.

-ENDS-

[hpcg] 16/9/2019 15:56

Indeed. Then the best the board can do is line up a sale for the parts in liquidation. In which case a bit more time might help. Its going to be zero for equity and a very short time in admin. Glad the pension scheme is in surplus.

Mallorca r.e. 200k in the hole - people make stupid mistakes when investing. I've done it, indeed I imagine most have. Taking losses early is a skill that has to be learnt. Practice in my case, but I think it is on the curriculum for the investment banks. All the biases that lead to the wrong decision in the first place are then raised to the power of loss aversion.