Vesttoo is now insisting that there is value recoverable in some reinsurance transactions that were “bona fide”, while at the same time both Vesttoo as the debtor and the creditor committee in the Chapter 11 bankruptcy case, have objected to the US Trustees move to convert that case to a Chapter 7 focused on a rapid liquidation.
In fact, it now transpires that Vesttoo and the Official Committee of Unsecured Creditors appointed in the chapter 11 case, have found some common ground.
The debtor and creditor group reached on agreement earlier this week on November 6th, as to a plan to move forwards.
