One year ago | By Business Insider
While the bankruptcy of British tour operator Thomas Cook has left hundreds of thousands of travelers stranded , a group of hedge funds are poised to make as much as $250 million from the company's collapse.
Funds including Sona Asset Management and XAIA Investment owned derivative investments called credit default swaps, which pay investors when a company can no longer service its debt, Bloomberg said in a report.
The company entered into compulsory liquidation on Monday after efforts to restructure it's debt with key investors failed, according to a statement .
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One year ago | By NPR
British travel company Thomas Cook has collapsed, leaving 150,000 British vacationers stranded overseas. NPR's Steve Inskeep talks to Financial Times reporter Daniel Thomas.
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One year ago | By Reuters
The world's oldest travel firm Thomas Cook collapsed on Monday, stranding more than half a million holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history. Ciara Lee reports
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One year ago | By Reuters
Hundreds of thousands of holidaymakers were stranded on Monday by the collapse of the world's oldest travel firm Thomas Cook , sparking the largest peacetime repatriation effort in British history.
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One year ago | By New York Post
LONDON - British tour company Thomas Cook collapsed early Monday after failing to secure emergency funding, leaving tens of thousands of vacationers stranded abroad. The British government said the return of the 178-year-old firm's 150,000 British customers now in vacation spots across the globe would be the largest repatriation in its peacetime history. The process...
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