Vesta gets court approval to sell assets to lender affiliate SRA

By Sarah Lizee

Olympia, Wash., Jan. 20 – Vesta Holdings, LLC gained court approval to sell its assets to stalking horse and winning bidder SRA Holdings, LLC, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

The company canceled an auction previously slated for Jan. 12 after receiving no other qualified bids.

SRA is an affiliate of some of the company’s prepetition lenders. The purchase price under the deal is comprised of a $125 million credit bid.

The Montgomeryville, Pa.-based wealth advisory, risk management services and insurance brokerage services company filed bankruptcy on Oct. 30 under Chapter 11 case number 22-11019.

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