Since the hotels are owned by a separate company which is not in liquidation, they cannot be seized to settle Thomas Cook's debts. But Thomas Cook (in liquidation) is still a shareholder of Westfort Capital, and a shareholder is entitled to realize its investment. Presumably LMEY is in negotiations with the U.K.'s Official Receiver about an eventual financial settlement. There are reports that LMEY is intending to buy out Thomas Cook's stake in the hotels. LMEY seems already to have taken over Thomas Cook's minority shareholding in the German hotel operator Aldiana, so buying out Thomas Cook's stake in Westfort Capital would seem a logical next step. LMEY certainly seems happy to include hotels owned by Westfort Capital, including Thomas Cook's flagship Casa Cook Ibiza, in its own portfolio.