Hedge Funds May Pocket $250 Million From Thomas Cook Collapse
- Payout set at about 90% in final CDS settlement auction
- Swaps are getting settled after company collapsed last month
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Hedge funds that bet 178-year-old U.K. travel firm Thomas Cook Group Plc would go bust are in line to share payouts of almost $250 million.
Investors including Sona Asset Management and XAIA Investment GmbH holding Thomas Cook default insurance will receive 90% of the amount covered by the instruments, according to final results of an auction on Wednesday.