Thomas Cook puts older and newer version CDS on separate planes

By Dan Alderson

Thomas Cook’s filing for chapter 15 protection in New York last week means older version CDS contracts with a 20 September maturity triggered pay-outs, the Determinations Committee has ruled. But the worth of newer format CDS with the same maturity remains unclear ahead of a further DC meeting on Friday

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TAGS: CDS Europe High yield bonds Distressed debt Credit derivatives