Rob Halfon calls for seizure of Thomas Cook bosses’ assets following Harlow job losses

ON WEDNESDAY, Rob Halfon, MP for Harlow, called on the Government to seize the assets of the Thomas Cook directors following the company’s collapse, in an urgent statement in the House of Commons.

The collapse of Thomas Cook means that employees, through no fault of their own, are out of their jobs – including those in Harlow.

Meanwhile, senior managers get to go back to their millionaire lifestyles.

We must ensure that those responsible for the mess, clear it up. pic.twitter.com/2IuCeh9JUC

— Robert Halfon ~Working Hard for Harlow~ (@halfon4harlowMP) September 25, 2019

The UK’s oldest travel group, Thomas Cook, went into liquidation in the early hours of Monday morning, resulting in 21,000 job losses across the country.

Addressing the Transport Secretary, Grant Shapps, Rob Halfon highlighted the devastating impact that the closure of Thomas Cook will have on employees from the local branch in Harlow and asked for assurances that their pensions would be protected.

Speaking in the House of Commons Chamber, he said: “My constituents have lost their jobs. The directors go back to their million-pound-plus houses. They’ve taken £47 million in bonuses and wages over the past few years.

“My constituents have worries about their jobs and worries about their pensions. Should we not be seizing the assets of the directors who plundered this company and took it to ruin?

“And will he guarantee that my constituents’ pensions will be protected?”

In his response, the Transport Secretary said: “I understand the concern of my hon. friend and I also congratulate him for the work that I know he’s been doing, these last few days with his constituents who have lost their jobs.

“We’ve touched on it before and there have been a lot of reports in the newspapers – I think it’s very important to allow the official receiver to do their job in this regard.

“But, to stress to the House, under the 1986 Insolvency Act, the official receiver’s liquidator may indeed seek to overturn a range of transactions made prior to the liquidation and, to be clear, that includes things like these bonuses which are being mentioned.

“Though, I do think we need to leave it to due process to see whether that would be appropriate.”

Rob’s question follows a strongly-worded letter sent to the Business Secretary, yesterday, calling “for an immediate, formal inquiry into…the pay-outs, bonuses and extortionate salaries granted to senior executives, all the while the company plummeted into financial difficulties.”

Rob Halfon is encouraging Harlow Thomas Cook employees to contact him via email [email protected].

Government guidance has also been published for both affected customers and employees.