CL-2024-000271 - [2025] EWHC 2162 (Comm)

Thomas Cook Group Plc (“TCGP”) was from June 2009 the ultimate parent undertaking of (i) Thomas Cook Investment 3 Limited (“TCI”), a company incorporated in Jersey, which was dissolved on 12 October 2015, (ii) Thomas Cook Retail Limited (“TCR”) (now in compulsory liquidation), and (iii) numerous other ‘Thomas Cook’ companies that are now in compulsory liquidation or dissolved following the much-publicised collapse of the Thomas Cook travel business in 2019.

The nub of the claim in this matter is that it is alleged that there was a fraudulent conspiracy between the Defendants to overinflate the value of the shareholding in a company called Gold Medal International Limited (or “GMI”), in order to induce TCGP and/or its subsidiaries to purchaseGMI, and subsequently shares in TCI, at an overvalue. I consider the relevant TCGP entities below, along with the exact details of that transaction.