Sunday, July 14, 2024

Official Reciever plans to give £280m to Thomas Cook creditors

The Official Receiver has announced plans to return £280m to creditors of the Thomas Cook group of companies, the high-street travel chain which went into liquidation in 2019.

Following the collapse of the Thomas Cook group of companies, the Official Receiver has worked across a complex group of liquidations to realise all available assets for the benefit of creditors.

This has included a broad range of assets including the sale of airport slots, hotel investments and high street stores which were owned across the group of companies.

David Chapman, who was appointed by the Court as Official Receiver and Liquidator of the group, said:  “I understand that a lot of people lost money following the collapse of Thomas Cook. My team has been working hard to finalise the liquidation, maximising funds which can now be distributed to creditors.

“I would encourage creditors to visit the dedicated Thomas Cook Claims Site to check the position regarding their claim as soon as possible, so we can consider whether they should receive any part of the funds being distributed.“

The Thomas Cook group is made up of 57 different companies in liquidation, not all of which will make payments to creditors and the payments made will be at different rates for each company.

It is expected that eligible creditors will be paid before the end of September 2024.

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