Thomas Cook Germany withdraws bridging loan application: liquidator

This post was originally published on this site

BERLIN (Reuters) – Insolvent Thomas Cook’s German unit has withdrawn an application for a state bridging loan for legal reasons, the company’s liquidator said on Wednesday, adding that the firm was still talking with investors about a possible rescue.

Insolvency administrators of the law firm Hermann Wienberg said the credit application needed to be amended, adding that the already submitted application would be withdrawn.

It did not say whether Thomas Cook would file a new application.

Thomas Cook, the world’s oldest travel firm, collapsed last month, sparking the largest peacetime repatriation effort in British history and a scramble for survival among many of its subsidiaries.

Thomas Cook Germany had filed for insolvency in a move aimed at separating its brands and operations from its failed parent and the German government said it was considering an application for a bridging loan from the company.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment