LONDON, Sept 19 (Reuters) - A panel of bankers will not makea decision on whether some investors in Thomas Cook'scredit are due a payout under bankruptcy rules until at leastMonday, it said on Thursday.
Following Thomas Cook's filing for Chapter 15 bankruptcyprotection in the United States earlier this week, CreditDerivatives Determinations Committees (DCs) met on Thursday todiscuss whether a bankruptcy credit event has occurred.
The DCs, which are made up of representatives from bigbanks, agreed to meet again at 1100 GMT on Sept. 23 to considerthe question further, it said in a posting on its website. Itgave no further details.
A ruling from the DCs is key for deciding whether holders ofCredit Default Swaps (CDS), instruments used to insure exposureto credit, will get paid for their bets against the world'soldest travel company.
If the panel rules that a credit event has indeed occurred,it would remove the risk that CDS holders will reject arestructuring plan deal agreed with Chinese shareholder Fosunlast month.
Creditors will vote on that rescue plan nextweek.
(Reporting by Josephine Mason; editing by David Evans)