Payments made to directors and managers should be treated the same way. It can be hard to prove but in Australia it is an offense to trade whilst knowingly insolvent.
Its an offence to trade whilst knowingly insolvent here too. Is there any suggestion that Cooks have done this?
As for the directors, why should they not be paid their salary when others are paid their salary? Are they responsible for this Brexit farce that has undoubtedly been the final nail in the coffin?
The whole idea of private enterprise is that good companies make money and bad companies go bust. Thi is what has happened here and the big losers are the shareholders
Incidentally, the company is majority German owned quoted both in London and Frankfurt with 52% of it shares owned by the German company Arcandor. They owned the whole of Thomas Cook until it took over a British Company My Travel and once again got a bit of a British connection. Until then its only British bit had been its name,.
