Hedge Funds in Line for $250 Million on Thomas Cook CDS Payout
- Payouts triggered for funds that bet on the company defaulting
- Panel ruled company’s liquidation triggered default swaps
This article is for subscribers only.
Not everyone lost out with the collapse of 178-year-old Thomas Cook Group Plc that put 21,000 jobs at risk and left travelers around the world stranded.
Speculators including Sona Asset Management and XAIA Investment GmbH stand to earn as much as $250 million from the bankruptcy.