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Vesttoo gets court approval to pay staff, but no exit payments for founders

August 25, 2023

During its bankruptcy case, beleaguered insurtech Vesttoo has been approved by the court to continue paying its staff, including certain employee benefits and expenses, but at a hearing this week the US Trustee balked at the suggestion terminated staff and founders may receive payments.

Vesttoo, through its counsel, had applied to the bankruptcy court to have the ability to continue paying its workers, asking for the approval to use its bank accounts to do so.

This included wages, certain employee benefits and expenses, as well as other compensation due.

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