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Dog biscuits for the 4P muppets.
Illgivafik - Hopeless - where is your 4P - not last week - this week ?
next week ? Never ?
Upset the Shorts are losing their grip - better increase your de-rammping !!!
Go earn your Troll money
Very low Volume - same this week. Shorts unable to control the price, - Suspect they will start closing soon.
Fosun - this is not a done deal and still hurdles to jump.
At this price - I will not be surprised at all with an aggressive takeover.
NK - Looks like he came in at 4.8 and Lillia at 12.3 - as of now - we do not know what yhey are doing.
Appears NK is shocked having looked at the true accounts ?
Having said that - The accounts have been manipulated somewhat imaginatively.
DYOR
My opinion - Fosun have a long way to go - this will not close within the next month or so.
Hk85 - Friday’s run off with Robinson Crusoe. What happened to 6.35 by EOD?
Gloves on bond holders win.
@Plaintruth53 no more predetermined days!!
What happened to Fridays?!?
If this trend continues we will soon reach 4p - no dilution needed! Kermit. You can learn a lot from Lydia!
JTM, thanks. We'' see who's 'hopeless' next week, Wednesday or Thursday. I hope I'll get back in time to discuss it with you further. :)
Hopeless answer
Another Froth & Foaming muppet
Quite right, JTM. Good lad. You keep buying. :)
No news here - recycled crap from the Motley Fool - same old same.
Illgivafik will love this - it's exactly what he does - repeats the same old Crap.
BTW
Who is the Author ?
Whats his credentials.
Who's his paymaster - same as Illgivafik ?
@JJ
Thanks - this is very interesting.
Cheers
As i said before fireworks start :). Will not be the last one.
BOD will be in the obligation to look after others scenario to secure TCG if they don’t want admin.
You can’t bring one scenario on the table and tell people you gonna loose your money .. that’s it.. nobody will accept.
We will see the BOD of Mickey’s will say tomorrow :)
Meant to say it won’t and not I won’t
Under the rules of schemes of arrangement -- a U.K. court
procedure -- the investors will need to hold at least 25% of
Thomas Cook’s bonds to influence the debt restructuring.
Investors hold about $261 million of swaps on Thomas Cook in
total, according to the latest data from the International Swaps
& Derivatives Association.
I won’t stand in court as total bonds is EUR1.150bn which is circa $1.265bn, 25% of this figure is roughly $316m
Taken a cue from the backbenchers no doubt, financial elite will win again, sad that no one can accept losing these days, it seems if you do you just manipulate things to suit you.
“The hedge funds are drawing up the plans because they fear
the conversion into equity swap that’s central to the
restructuring may leave their holdings of credit-default-swaps
with no debt to insure. This would prevent a payout in
accordance with the contracts.”
From the looks of it, it seems like they traded CDS purely from a speculative perspective and want a payout now
Got it from my BBG terminal
Holders of credit insurance on Thomas Cook
Group Plc are drawing up plans to potentially block the U.K.
travel agent’s $1.1 billion rescue in order to ensure they get a
payout.
The group of hedge funds, including Sona Asset Management
and XAIA Investment GmbH, may vote against a bailout led by
Fosun Tourism Group at a creditor meeting on Sept. 18 if they
don’t secure their payment before then, according to people
familiar with the plan. Fosun’s rescue includes a debt-for-
equity swap that could prevent compensation on their default
insurance.
The hedge funds are drawing up the plans because they fear
the conversion into equity swap that’s central to the
restructuring may leave their holdings of credit-default-swaps
with no debt to insure. This would prevent a payout in
accordance with the contracts.
Law firm Fieldfisher LLP is representing them, the people
said asking not to be named discussing private information. The
investors also bought Thomas Cook bonds entitling them to attend
the meeting.
Under the rules of schemes of arrangement -- a U.K. court
procedure -- the investors will need to hold at least 25% of
Thomas Cook’s bonds to influence the debt restructuring.
Investors hold about $261 million of swaps on Thomas Cook in
total, according to the latest data from the International Swaps
& Derivatives Association.
Representatives for Fieldfisher, Sona and XAIA declined to
comment on the plans.
The group has already contacted Thomas Cook’s financial
adviser PJT Partners and the bondholders’ legal adviser Milbank,
according to the people familiar with the matter.
Representatives from PJT and Milbank declined to comment.
Thomas Cook declined to comment. As part of the schemes of
arrangement, the company may file for Chapter 15 court
protection from creditors in the U.S. That could trigger a
payout on the default swaps before next week’s bondholder
meeting and solve the problem for the insurance holders.
Read more: Credit Swaps Flaw Spurs Trade on Thomas Cook
Debt Restructuring
The travel company sought its rescue amid wilting profits
as its core north-European customers vacationed at home during
successive summer heatwaves. Uncertainty over the economic
impact of Brexit has also weighed on demand.
Sona has successfully steered a similar maneuver in the
past. The London-based fund ensured payouts on New Look Retail
Group Ltd.’s swaps earlier this year by buying enough of the
U.K. fashion retailer’s bonds to influence its debt
restructuring.
"Thomas Cook Rescue Under Challenge From Hedge-Funds Plan"
Don't have the story - but this story is floating around on Bloomberg. Would appreciate if someone can post the full story
JTM: I can assure you I am not a shorter. My only interest here is watching you wriggle as you make your 'adjustments'. I excused the fantasist, however misleading his stuff was. I don't think he was very well. I won't be excusing you. :)
Nope - It's HopeSo - just another shorter / muppet.
'Very strong Fundamentals - looks like will smash 6P'......predicted JTM on Thursday last. Any more funny guesses for us?
Is Illgivafick the Motley fool ?
Melqart Asset Management (UK) Ltd 0.81% increase of 0.11% 6th Sept 2019
Shorts now at 10.68%