Vesttoo creditors turn attention to deficiencies of financial controls
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Vesttoo creditors turn attention to deficiencies of financial controls

Liz Bury
15 September 2023
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The Official Committee of Unsecured Creditors in the Vesttoo Chapter 11 proceedings has requested an order from the Bankruptcy Court for the District of Delaware that will allow it to pursue its own investigation into the alleged faking of letters of credit (LOCs) at Vesttoo.

It has said the firm’s current board and management were “obvious investigation subjects and/or targets”.

The filing added that the creditors’ committee wanted to explore Aon’s role in what happened.

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Liz Bury
Editor, Insurance Insider ILS
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