Vesta indenture trustee requests appointment to unsecured creditors committee

By Caroline Salls

Pittsburgh, Sept. 14 - Vesta Insurance Group, Inc. indenture trustee U.S. Bank NA requested appointment to Vesta's official committee of unsecured creditors, according to a Thursday filing with the U.S. Bankruptcy Court for the Northern District of Alabama.

U.S. Bank said it represents the largest body of Vesta creditors.

Although the bank said it had hoped to serve on the committee, it never received a solicitation notice from Vesta's bankruptcy administrator.

According to the motion, the indenture for Vesta's 8¾% senior debentures due 2025 empower U.S. Bank to act on behalf of debentureholders in the event of receivership, insolvency, liquidation, bankruptcy, reorganization or other judicial proceedings.

Vesta is a Birmingham, Ala., insurance company. Its involuntary Chapter 7 case was converted to a voluntary Chapter 11 case on Aug. 7. Its case number is 06-02517.

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