Vesttoo’s unsecured creditors seek early termination of court procedure, fast liquidation
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Vesttoo’s unsecured creditors seek early termination of court procedure, fast liquidation

Kyoung-son Song
23 October 2023
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Vesttoo’s unsecured creditors have filed a motion requesting early termination of the exclusivity period granted to the firm to develop a new business plan in a bid to accelerate liquidation.

Following the outbreak of the controversy regarding faked letters of credit (LOCs) and its bankruptcy filing, Vesttoo proposed a “Trade Forward” plan that involved a name change and a board reconstitution, as well as a capital raise.

The

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Kyoung-son Song
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