Thomas Cook collapse sets up US$250m hedge fund windfall

Thomas Cook banner is seen at Mallorca Airport after the world's oldest travel firm collapsed stranding hundreds of thousands of holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history, in Palma de Mallorca, Spain, September 23, 2019. REUTERS/Enrique Calvo

LONDON: Thomas Cook Group Plc’s collapse may prove lucrative for some.

Investors holding credit insurance on the U.K. travel agent’s debt are set for a long-awaited payday and may cash in on as much as $250 million after the company filed for liquidation early Monday.