WorldVentures will exit bankruptcy through a proposed acquisition by Verona International Holdings.

As per a press-release issued by WorldVentures on June 3rd;

WorldVentures … is pleased to announce that it has entered into a binding agreement … with Verona International Holdings as a plan of reorganization sponsor under the bankruptcy code.

This agreement, valued at upwards of 
$82,500,000
, will provide for a repayment of pre-bankruptcy sales representative commissions, among other provisions.

Under the agreement, the company will operate under both the WorldVentures and DreamTrips brands going forward.

Personally I’d never heard of Verona International Holdings before.

According to
WorldVentures’ press-release
, Verona International Holdings are

experienced in the travel industry with a successful track record of acquiring and successfully restructuring bankrupt companies.

Not sure if something dodgy is going on but the
only
Google search results for “Verona International Holdings” are WorldVentures’ press-releases.

They don’t seem to exist online outside of WorldVentures’ press-releases, which are not even three days old.

This is strange considering Verona purportedly has a “successful track record”.

Even stranger is WorldVentures quoting a “Verona International Holdings representative”, as opposed to a named executive.

Could be innocent but my “something’s not quite right here” radar is pinging.

Anyway hopefully if there is something suss going on the bankruptcy court gets to the bottom of it.

The reorganization plan will be submitted for court approval in the coming weeks.

I’ll continue to monitor WorldVentures’ bankruptcy case docket for details.

Update 23rd January 2022 – 
While the original owners of Verona International Holdings continue to operate in secret, we now know that
Mark & Tammy Smith have bought in
.

Verona International Holdings, Inc. (“Verona International”), the parent company of DreamTrips International, LLC and Rovia I, LLC, is pleased to announce that Mark and Tammy Smith have made a significant financial investment to become full equity partners in the ownership of Verona International.

Mark and Tammy Smith head up WorldVentures reboot,
DreamTrips
, as CEO and Chief Field Officer respectively.

🤖 Quick Answer

What is the acquisition agreement between WorldVentures and Verona International Holdings?
WorldVentures entered into a binding agreement with Verona International Holdings valued at over $82.5 million as a bankruptcy reorganization plan. The agreement enables WorldVentures to exit bankruptcy while repaying pre-bankruptcy sales representative commissions and other obligations. The company will continue operating under both WorldVentures and DreamTrips brand names.

Who is Verona International Holdings?
Verona International Holdings is an investment firm with extensive experience in the travel industry. The company served as the plan reorganization sponsor under bankruptcy code for WorldVentures' emergence from financial difficulties, demonstrating significant expertise in restructuring travel sector businesses.

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