Travel Giant Thomas Cook Declares Bankruptcy after Failing to Reach Deal

Agencies
September 23, 2019

London, Sept 23: British travel group Thomas Cook on Monday declared bankruptcy after failing to reach a last-ditch rescue deal, triggering the UK's biggest repatriation since World War II to bring back stranded passengers.

The 178-year-old operator had been desperately seeking £200 million ($250 million, 227 million euros) from private investors to save it from collapse.

"Despite considerable efforts, those discussions have not resulted in agreement between the company's stakeholders and proposed new money providers," Thomas Cook said in a statement.

"The company's board has therefore concluded that it had no choice but to take steps to enter into compulsory liquidation with immediate effect."

The government said it had hired planes to fly home an estimated 150,000 holidaymakers to the UK, in an operation starting on Monday.

"Following the collapse of Thomas Cook and the cancellation of all its flights, Transport Secretary Grant Shapps has announced that the government and UK Civil Aviation Authority has hired dozens of charter planes to fly customers home free of charge," a separate statement said, describing it as the largest repatriation in peacetime history.

"All customers currently abroad with Thomas Cook who are booked to return to the UK over the next two weeks will be brought home as close as possible to their booked return date."

Thomas Cook chief executive Peter Fankhauser called it a "deeply sad day".

"It is a matter of profound regret to me and the rest of the board that we were not successful," he said.

"This marks a deeply sad day for the company which pioneered package holidays and made travel possible for millions of people around the world," he added in the group's statement.

22,000 jobs

The firm's creditors held a marathon meeting on Sunday to try and work out a deal, followed by a meeting of the board of directors.

Reports said a collapse of the group would mean the repatriation of 600,000 tourists, including around 150,000 seeking government help returning to the UK.

Two years ago, the collapse of Monarch Airlines prompted the British government to take emergency action to return 110,000 stranded passengers, costing taxpayers some £60 million on hiring planes.

As well as the grounding of its planes, Thomas Cook has been forced to shut travel agencies, leaving the group's 22,000 global employees -- 9,000 of whom are in Britain -- out of a job.

Holidaymakers had already reported problems, with guests at a hotel in Tunisia owed money by Thomas Cook being asked for extra money before being allowed to leave, according to a tourist interviewed by AFP.

Chinese peer Fosun, which was already the biggest shareholder in Thomas Cook, agreed last month to inject £450 million into the business as part of an initial £900 million rescue package.

In return, the Hong Kong-listed conglomerate acquired a 75 percent stake in Thomas Cook's tour operating division and 25 percent of its airline unit.

Thomas Cook in May revealed that first-half losses widened on a major write-down, caused in part by Brexit uncertainty that delayed summer holiday bookings. The group, which has around 600 stores across the UK, has also come under pressure from fierce online competition.

Cabinet maker Thomas Cook created the travel firm in 1841 to carry temperance supporters by train between British cities.

It soon began arranging foreign trips, being the first operator to take British travellers on escorted visits to Europe in 1855, to the United States in 1866 and on a round-the-world trips in 1872.

The company was also a pioneer in introducing "circular note" -- products that would later become traveller's cheques.

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News Network
September 23,2024

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New Delhi: Downloading and watching child pornography is an offence under the Protection of Children from Sexual Offences (POCSO) Act, the Supreme Court ruled today in a landmark judgment on the stringent law to prevent child abuse.

The bench of Chief Justice of India DY Chandrachud and Justice JB Pardiwala set aside the Madras High Court order that had ruled that merely downloading and watching child pornography was not an offence under the POCSO Act. The Supreme Court noted that the high court had committed an "egregious error" in passing the judgment.

The Madras High Court's order had come in a case in which a 28-year-old man was charged with downloading child pornography on his phone. The court had quashed the criminal proceedings against the man and said children these days are grappling with the serious issue of watching pornography and society must be mature enough to educate them instead of punishing them.

The Supreme Court today restored the criminal proceedings against the man.

At the outset, Justice Pardiwala thanked the Chief Justice for the opportunity to pen this judgment. The order focused on Section 15 of the POCSO Act which lays down punishment for the storage of pornographic material involving children.

"Any person who stores any pornographic material involving a child and fails to report or destroy it is punishable with a fine of not less than five thousand rupees., and repeat offence will be punishable with fine of not less than ten thousand rupees. If the material is stored for further transmitting or propagating, then along with fine, it is punishable with upto three years of imprisonment. For storing child pornographic material for commercial purpose is punishable with three to five years of imprisonment, and in subsequent conviction, upto seven years of imprisonment," the Section says.

Justice Pardiwala said that in this case, mens rea is to be gathered from actus rea -- mens rea refers to the intent behind the crime and actus rea is the actual criminal act.

"We have said on the lingering impact of child pornography on the victimisation and abuse of children... We have suggested to the Parliament to bring an amendment to POCSO... so that child pornography can be referred to as child sexually abusive and exploitative material. We have suggested an ordinance can be brought in. We have asked all courts not to refer to child pornography in any order," the bench said.

The Chief Justice called it a "landmark judgment" and thanked Justice Pardiwala.

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News Network
September 19,2024

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At least 20 people have been killed as more communication devices detonated in Lebanon a day after simultaneous explosions of pagers across the country left at least a dozen dead and thousands injured.

Explosions were reported in multiple locations in Lebanon, including at the site of a funeral for a child killed in a pager explosion the previous day.

Media reports said that several blasts occurred simultaneously in Beirut similar to what happened on Tuesday. Several explosions were also reported in southern and eastern Lebanon.

Lebanon’s Health Ministry said at least 20 people were killed and more than 450 injured in the new wave of explosions. 

An informed source said that the detonated devices came from the same batch of cargo as the detonated pagers, all imported from the same company.

The Lebanese Army Command called on the people not to gather in the scenes of security incidents to allow the arrival of medical teams.

Civil defense teams are extinguishing the fires that broke out as a result of the explosions, while ambulance teams continue to transport the injured.

The new act of aggression came as top Hezbollah official Sayyed Hashem Saffieddine was delivering a speech affirming that the Israeli acts of terrorism will have their own punishment, stating that the resistance is steadfast and capable of inflicting more defeats on the enemy.

The Hezbollah official said a speech by the movement’s Secretary-General Sayyed Hassan Nasrallah, planned for Thursday, will clarify matters and that the movement will face a new pattern and a new confrontation with the enemy.

Thousands of pagers widely used by resistance factions and also public service workers exploded on Tuesday, leaving at least a dozen dead and around 3,000 people injured.

The Lebanese government has blamed Israel. Hezbollah has promised the Israeli regime will receive ‘just punishment’ for the attacks.

Taiwanese company Gold Apollo said the pagers used in the Israeli deadly terrorist attack on Tuesday had been made by a Hungarian firm, to which the company had authorized its brand on the devices.

The company made the remarks in a statement on Wednesday, identifying the firm as BAC Consulting KFT based in the Hungarian capital Budapest.

The UN Security Council is due to meet on Friday to discuss the latest blasts that hit Lebanon, council president Slovenia said on Wednesday after Lebanon requested an emergency meeting.

UN Secretary-General Antonio Guterres said Wednesday that civilian objects should not be weaponized.

"I think it's very important that there is an effective control of civilian objects, not to weaponize civilian objects -- that should be a rule that... governments should, be able to implement," Guterres said at a briefing at UN headquarters.

"As important as the event in itself, is the indication that this event confirms that there is a serious risk of a dramatic escalation in Lebanon -- and everything must be done to avoid the escalation," he said.

"What has happened is particularly serious, not only because of the number of victims that it caused, but because of the indications that exist that this was triggered, I would say, in advance of a normal way to trigger these things, because there was a risk of this being discovered."

The Euro-Mediterranean Human Rights Monitor described the detonation of pagers and wireless devices in Lebanon on Tuesday and Wednesday as a blatant violation of international law.

The organization said the attack did not only target Hezbollah members but also indiscriminately exploded devices used by civilians.

The timing of the attack indicates that Israel did not take necessary precautions, as it occurred when device users were at home with their families, leading to numerous severe civilian injuries, including children, it said.

Israel's actions constitute a flagrant violation of international humanitarian law, which prohibits indiscriminate attacks and the targeting of civilians and their property, and mandates that warring parties distinguish between civilians and combatants at all times, the rights monitor said.

The organization called for an urgent and independent international investigation into these attacks and pressure on Israel to immediately stop its crimes and prevent further escalation in the region.

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News Network
September 19,2024

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Narendra Modi-led government of India has abstained in the UN General Assembly on a resolution that demanded that Israel bring an end, “without delay”, to its unlawful presence in the Occupied Palestinian Territory within 12 months.

The 193-member General Assembly adopted the resolution, with 124 nations voting in favour, 14 against and 43 abstentions, including that by India.

Those abstaining included Australia, Canada, Germany, Italy, Nepal, Ukraine and the United Kingdom.

Israel and the US were among the nations who voted against the resolution titled ‘Advisory opinion of the International Court of Justice on the legal consequences arising from Israel’s policies and practices in the Occupied Palestinian Territory, including East Jerusalem, and from the illegality of Israel’s continued presence in the Occupied Palestinian Territory’.

The resolution adopted Wednesday demanded that “Israel brings to an end without delay its unlawful presence in the Occupied Palestinian Territory, which constitutes a wrongful act of a continuing character entailing its international responsibility, and do so no later than 12 months from the adoption of the present resolution.” 

The Palestinian-drafted resolution also strongly deplored the continued and total disregard and breaches by the Government of Israel of its obligations under the Charter of the United Nations, international law and the relevant United Nations resolutions, and stressed that such breaches seriously threaten regional and international peace and security.

It recognised that Israel must be held to account for any violations of international law in the Occupied Palestinian Territory, including any violations of international humanitarian law and international human rights law, and that it “must bear the legal consequences of all its internationally wrongful acts, including by making reparation for the injury, including any damage, caused by such acts.”

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