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It Thomas Cook Germany is profitable it would not be collapsing?Essy to blame others than face the fact it cannot be profitable to then collapse.
The enormous gap between the projected claims and the amount of insurance cover is yet more proof that when it comes to protecting customer advance payments, there is no substitute for a trust fund system. Let us hope the UK Regulators have taken note!
The Auditors who signed the accounts with these liabilities should be prosecuted,In UK the Regulatory Authority has been turning a blind eye to allow these Accountancy Firms to monopolize the whole of proffessional market in Auditing, accountancy practices.This began late 80s....JUST look at all the liquidations and bankruptcies... pointing at allowing firms to operate in volatile extremely turbulent waters....and we witness the aftermaths.....The first mandatory enforced requirements is the imdentity cover for all the exposure of all bookings on the system.... computers can easily increase/ decrease risk cover...