In a rare and extremely positive development for creditors, Sentido Hotels & Resorts GmbH, a company that belonged to the bankrupt German group Thomas Cook, announced that all creditors’ claims will be covered 100%. This is an outcome that is rarely achieved in normal bankruptcy proceedings.
Lawyer and insolvency administrator Julia Kappel-Gnirs, from the law firm Hermann Wienberg Wilhelm, managed through targeted actions and strategic management to ensure full satisfaction of creditors’ claims. According to a relevant statement from the firm, the result was achieved through the successful sale of the well-known hotel brand Sentido, but also through the effective collection of international claims.
“Full satisfaction of creditors is the best possible outcome in bankruptcy proceedings,” said Julia Kappel-Gnirs. “I am very pleased that we have managed, in such a complex and international environment as that of the Thomas Cook group, to achieve this result.”
The story begins at the end of 2019, when the then DER Touristik Group – today’s Dertour Group – acquired Sentido Hotels & Resorts. This acquisition allowed the hotels operating under the Sentido brand to continue their operations under new management, protecting dozens of businesses in the sector from potential closure or impairment.
At the same time, the agreement secured significant revenue for the bankruptcy process, contributing decisively to achieving full compensation for creditors.
This success comes in an environment where bankruptcies often leave behind unsatisfied claims and financial losses for suppliers, partners, and employees. Sentido stands out as an example of where concerted effort, early asset sales, and international legal action have produced an extremely rare positive outcome.
Thomas Cook, one of the world’s largest travel groups, collapsed in 2019, leaving thousands of tourists, businesses, and employees in limbo. Managing the group’s insolvency was a complex and challenging undertaking from the outset, involving dozens of countries, legal systems and investment interests.
