In April, the head of the Cologne-based tour operator itravel was arrested and the company’s operations were temporarily suspended, according to the company’s own statements. The tour operator is now officially insolvent – will the insurance company compensate the cheated customers?
Now what some customers of the struggling holiday provider itravel have been hoping for for weeks has happened. The tour operator company of the itravel group is insolvent. The Luxembourg commercial register confirmed this exclusively to starLast Friday, the district court in Luxembourg opened bankruptcy proceedings for itravel Luxembourg S.à.rl. Bankruptcy as the last hope? As absurd as that may sound, it could actually be true for itravel customers.
Source: Stern
