Vantage Travel committee calls for appointment of Chapter 11 trustee

By Sarah Lizee

Olympia, Wash., Oct. 3 – Vantage Travel Services, Inc.’s official committee of unsecured creditors filed a motion seeking appointment of Chapter 11 trustee to the company’s case, or, in the alternative, conversion of the case to Chapter 7, according to documents filed with the U.S. Bankruptcy Court for the District of Massachusetts.

The committee said the debtor’s management is acting in the interests of its owner/lender entities, Henry R. Lewis and the Henry R. Lewis Trust, to the detriment of the estate and creditors.

“Since appointment of the committee, this case has moved from crisis to crisis by virtue of the owner/lender entities’ threats to seek conversion to a case under Chapter 7 if their self-serving demands were not met – and the debtor’s apparent acquiescence to this,” the committee said.

“Like clockwork, a demand would be made upon threat of conversion before whatever hearing was coming next, creating a ‘crisis of the moment’ manufactured by the owner/lender entities, with the debtor doing their bidding.

“This strategy first tainted cash collateral negotiations and is now overwhelming plan development and solicitation.”

The committee said the motion needs to be granted to remove the debtor from possession, end the owner/lender entities’ domination of the debtor and the case, and install a fiduciary to oversee distribution of assets as provided for under the bankruptcy code.

Vantage is a Boston-based river cruise, small ship cruise and escorted land tour operator. The company filed bankruptcy on June 29 under Chapter 11 case number 23-11060.

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