Blog
On 27 September 2019, the official insolvency proceedings regarding Thomas Cook Austria were opened at the commercial court in Vienna. This unforeseen incident has various consequences depending on whether the affected customers booked a package or an individual service.
Package travel customers
According to the package travel regulation, in cases, where a full package has been booked, all payments (down payments of up to 20 per cent, final payments or any necessary costs for the return transport) are insured against insolvency. In these cases, the affected customers have the possibility of filing their claims for reimbursement of any costs within 8 weeks, which end on 17 November 2019. Postal applications need to be submitted by Friday, 15 November 2019. With nearly 22 million euros, Thomas Cook Austria is enough protected, so that affected customers should get a refund, according to current information. We recommend you to contact the responsible person being AWP P&C S.A.
Contact details:
Tel: + 43 1 525 03 6853 / E-Mail: thomascook.at@allianz.com
(Submit your booking and payment confirmations as well as a bank account and a brief description of the matter)
Customers without package
Customers who have booked an individual service, e.g. hotel-only or flight-only, are not secured. Affected consumers, who also have the possibility of being represented by a creditor protection association can file their claims with the respective administrator, Dr. Hoedl, at the commercial court in Vienna as creditors. Those consumers will get a refund according to a quota, i.e. a certain percentage of the claim, at most.
At the first hearing, which will take place about two months after the opening, it will be checked whether the creditors have correctly filed their claims in the respective amount. For the claim in the insolvency proceedings, no specific form is required. Claims for registration are to be charged (Euro 23.00) and filed twice in the insolvency court, quoting the file number of the insolvency proceedings.
Since the debts are very high (the amount of 36 million euro were specified, according to the last balance sheet of Thomas Cook Austria for 2018 (AKV)), it is uncertain whether these customers will get any refund. We strongly advise to refrain from filing the claims due to the above-mentioned reasons. However, if you decide to file a claim, the form can be found here
If there will not be any quota for the insolvency creditors, the insolvency proceedings will be annulled by court order due to lack of existing assets.
We recommend that you seek the opinion of relevant experts with appropriate experience in this field for your specific requirements and procedures.
More articles:
Jasper Brinkman
Jasper Brinkman
"Following a devastating hotel fire in Prague, the law firm Holubová advokáti, led by attorney Klara Dvorakova, successfully represented our extended family as a group of victims. The firm navigated complex international insurance and compensation laws to defend our rights.
I would like to acknowledge the extraordinary efforts the firm had to make to bring our case to a successful compensation under extremely difficult circumstances."
Stewarts
Stewarts
"A visit to her daughter in London turned Eva's life upside down when she says she stepped into a crossing on a green light but was hit by a car. Despite her remarkable bravery, she faced a long treatment due to fractures in her pelvis, and the associated limitations and pain are likely to persist for the rest of her life. Regular headaches and impaired concentration compound her challenges.
Eva contacted us through an organization temporarily helping her manage her difficult living situation. At that time, she was destitute, relying only on subsistence payments. We were able to assist her because we specialize in personal injury and have contacts with proven colleagues abroad.
We worked with Stewarts, a UK law firm, on this case. Attorneys Klára Dvořáková and Rebecca Huxford helped Eva with the documentation in her case, explaining her options and the differences between the Czech and British systems of healthcare and social benefits reimbursement. Within a few months, thanks to the professional cooperation between the two offices, an offer of compensation from the insurance company of approximately CZK seven million was achieved. The client accepted this settlement because she did not want to deal with courts in the United Kingdom.
Subsequently, we assisted the client with related tax issues and contacted Auditone, a tax consultancy firm, which arranged for the filing of a tax return. Compensation for lost income is taxable, unlike most personal injury compensation.
'No one has done as much for me as you,' Eva said.
The fact that we were able to help Eva gives our work meaning and brings us great joy. We are very happy that, thanks to our many years of active involvement in the international professional organization PEOPIL, we can cooperate on such cases."