Has a Failure to Pay Credit Event occurred with respect to Thomas Cook Group Plc?
The following memorandum was submitted by the submitter of the DC Question. It is not a decision of the EMEA Determinations Committee. See the column on the right hand side of this page headed Procedural History for the decision of the EMEA Determinations Committee and related statement.
| Settlement Terms | 2019 Thomas Cook Group plc Credit Derivatives Auction Settlement Terms EMEA DC Statement October 23, 2019 Further to the publication of the Auction Settlement Terms in relation to Thomas Cook Group plc on Wednesday 23 October, market participants should note the timing of the following auction/settlement – related key events/deadlines: 5.00pm London time on Thursday 24 October 2019: deadline for any market participant who wishes to participate in the Thomas Cook Group plc Auction to submit a Participating Bidder Letter to the DC Secretary. 5.00pm London time on Tuesday 29 October 2019: deadline for submission of Customer Physical Settlement Requests to the relevant Participating Bidder. Wednesday 30 October 2019: Auction Date. 4.00pm London time on Thursday 31 October 2019: deadline for Buyers to deliver Notices of Physical Settlement to Sellers in respect of any Representative Auction–Settled Transactions. Monday 4 November 2019: Auction Settlement Date. 4.00pm London time on Friday 15 November 2019: deadline for Sellers to deliver Notices of Physical Settlement to Buyers in respect of any Representative Auction–Settled Transactions. Tuesday 31 December 2019: Physical Settlement Date in respect of any Representative Auction–Settled Transactions. |
| Timeline | Auction Date: 30 October 2019 Event Determination Date: 20 September 2019 in respect of 2014 Transactions. See the Bankruptcy Credit Event DC Question in respect of the Chapter 15 Petition for Updated 2003 Transactions. |
| Deliverable Obligations | Timetable for publication of Final List Friday 11 October 2019: publication of Initial List. 5:00 p.m. London time Monday 14 October 2019: deadline for submitting additional potential Deliverable Obligations to the DC Secretary for inclusion on the Supplemental List. Please see Submission of Potential Deliverable Obligations and Challenges Note below for further information on making such a submission. 7:00 p.m. London time Monday 14 October 2019: publication of the Supplemental List. 5:00 p.m. London time Thursday 17 October 2019: deadline for challenging obligations on the Supplemental List. Please see Submission of Potential Deliverable Obligations and Challenges Note below for further information on making such a challenge. 5:00 p.m. London time Monday 21 October 2019: if applicable, deadline for resolving challenges. After 5:00 p.m. London time on Monday 21 October 2019 (or earlier if no challenges received): publication of the Final List. Submission of Potential Deliverable Obligations and Challenges |