Germany To Repay Customers Of Insolvent Thomas Cook

How nice of Germany to do that. But where does Germany get the money to repay them?

Germany

It’s no Kunststück (slight of hand), folks. I could repay customers of insolvent companies all day long too as long as I had somebody else’s money to repay them with. Just milk the taxpayer again, in other words.

Germany will give financial assistance to customers hit by the insolvency of Thomas Cook because the tour operator’s insurance cover has proved insufficient, it said on Wednesday…

Insurer Zurich’s (ZURN.S) liability is capped at 110 million euros ($121 million) but it has already registered claims worth 250 million and experts estimate total claims will reach 300 million to 500 million euros, ARD said.

A legal opinion commissioned by Zurich concluded that state liability is possible because the German government inadequately implemented a 2015 EU directive meant to ensure customers get their money back in the case of the insolvency of a tour operator, the report said.

“Damages that are not compensated by other parties will be settled by the federal government.”

The Beate Uhse Sex Trade Has Fallen On Hard Times

Or on not so hard times?

Beate

Sales have failed to rise. They’re busted. The company couldn’t keep their turnover turning over enough. Then they got strapped for cash. Pinched. Hey, sex re-tail just ain’t what it used to be. Especially when you pay in arrears and then get behind. Hey, if they turn Beate Uhse into a holding company just what will it be holding, anyway?

I’m sorry. I’ll stop now. It’s Friday.

Sex sells – auf dieses Motto konnte sich der Erotikhändler Beate Uhse seit mehr als 70 Jahren verlassen. Doch seit längerem stockte das Geschäft mit Schmuddelfilmen, Dildos und Dessous. Nun kommt die Teil-Insolvenz.

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