- Thomas Cook collapse—is court-ordered liquidation the new administration?
- Original news
- Why did Thomas Cook enter compulsory liquidation rather than administration?
- What is the impact of Thomas Cook being wound up this way?
- Control of the companies
- Dismissal of employees
- Stranded customers
- Claims of Other parties
- Who is likely to get their money back?
- Could Thomas Cook directors face legal action?
Restructuring & Insolvency analysis: Thomas Cook is the third large company to be wound up by the courts in 18 months, following British Steel and Carillion in 2018. Professor Andrew Keay, barrister at Kings Chambers, 9 Stone Buildings and Lincoln’s Inn and Professor of corporate and commercial Law at the University of Leeds, discusses why it entered liquidation rather than administration and how it will impact employees and customers of Thomas Cook.
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