Login

Ashurst, Reed Smith advising as world’s oldest travel firm collapses

Dentons partners give green light to LatAm expansion…

Ashurst, Reed Smith advising as world’s oldest travel firm collapses

Ashurst, Reed Smith advising as world’s oldest travel firm collapses

Several law firms are involved in advising various parties following the collapse of Thomas Cook, the world’s oldest travel agent, which ceased trading on Sunday.

A last-minute attempt to secure a GBP 200 million+ rescue bid for the 178-year-old firm was held at the London offices of Latham & Watkins, but a deal was not reached.

Ashurst is now advising the UK’s Official Receiver which has been appointed to manage the compulsory liquidation and special managers of the procedure AlixPartners and KPMG; and Reed Smith is advising the Civil Aviation Authority (CAA).

The collapse means the loss of thousands of jobs and the necessity to fly thousands of Thomas Cook customers home from disparate holiday destinations.

It remains to be seen precisely why compulsory liquidation was chosen over administration for Thomas Cook, other than the perhaps obvious need for government (CAA especially) to have a  direct ‘report’ in the form of the Official Receiver to coordinate matters in the immediate term,” said Tim Symes, a partner at city law firm DMH Stallard and a specialist in insolvency, adding that the full story is likely to be disclosed by the intense media scrutiny that has begun and expected to continue in the coming weeks.

Dentons partners give green light to LatAm expansion

The merger of Dentons with firms in Argentina and Uruguay have been given the go-ahead by partners of the global law firm.

They have voted to combine with Rattagan Macchiavello Arocena in Argentina and Jiménez de Aréchaga, Viana & Brause in Uruguay, paving the way for Dentons to become the leading global law firm in the region.

Free newsletter

The Canadian Legal Newswire is a FREE newsletter that keeps you up to date on news and analysis about the Canadian legal scene. A separate InHouse Edition is delivered on a regular basis, providing targeted news and information of interest to in-house counsel.

Please enter your email address below to subscribe.

Recent articles & video

CABL suggests changes to criminal justice system to address disproportionate impact on Black persons

Queen’s launching new program to train immigration and citizenship consultants

Roundup of law firm hires, promotions and departures: July 8 update

Federal government releases regulations on harassment and violence training

B.C. bill could allow digital wills, signatures and electronic witnessing

Law deans stand in solidarity with those calling out systemic racism

Most Read Articles

Safety first! New Canadian cloud security guidance is issued

Queen’s launching new program to train immigration and citizenship consultants

Liability claims prominent among COVID insurance litigation wave: lawyer

Federal Court of Appeal takes novel approach to granting interveners’ motions