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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. _)*

Victory Acquisition Corp.

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(Name of Issuer)

Common Stock

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(Title of Class of Securities)

92644D100

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(CUSIP Number)

April 27, 2009

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(Date of Event Which Requires Filing of This Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule

is filed:

[ ] Rule 13d-1(b)

[X] Rule 13d-1(c)

[ ] Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person's

initial filing on this form with respect to the subject class of securities, and

for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed

to be "filed" for the purpose of Section 18 of the Securities Exchange Act of

1934 ("Act") or otherwise subject to the liabilities of that section of the Act

but shall be subject to all other provisions of the Act (however, see the

Notes).

CUSIP NO. 92644D100

SCHEDULE 13G

PAGE 2 OF 9 PAGES

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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION

NO. OF ABOVE PERSON

WEISS ASSET MANAGEMENT LLC

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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ]

(B) [ ]

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3. SEC USE ONLY

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4. CITIZENSHIP OR PLACE OF ORGANIZATION

DELAWARE

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5. SOLE VOTING POWER

NUMBER OF --------------------------------------------------

SHARES 6. SHARED VOTING POWER

BENEFICIALLY

OWNED BY 2,222,514

EACH --------------------------------------------------

REPORTING 7. SOLE DISPOSITIVE POWER

PERSON

WITH: 0

--------------------------------------------------

8. SHARED DISPOSITIVE POWER

2,222,514

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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,222,514

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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES

CERTAIN SHARES* [ ]

--------------------------------------------------------------------------------

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

5.5%

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12. TYPE OF REPORTING PERSON*

00 - Limited Liability Company

CUSIP NO. 92644D100

SCHEDULE 13G

PAGE 3 OF 9 PAGES

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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION

NO. OF ABOVE PERSON

WEISS CAPITAL LLC

--------------------------------------------------------------------------------

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ]

(B) [ ]

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3. SEC USE ONLY

--------------------------------------------------------------------------------

4. CITIZENSHIP OR PLACE OF ORGANIZATION

DELAWARE

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5. SOLE VOTING POWER

NUMBER OF --------------------------------------------------

SHARES 6. SHARED VOTING POWER

BENEFICIALLY

OWNED BY 1,154,046

EACH --------------------------------------------------

REPORTING 7. SOLE DISPOSITIVE POWER

PERSON

WITH: 0

--------------------------------------------------

8. SHARED DISPOSITIVE POWER

1,154,046

--------------------------------------------------------------------------------

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

1,154,046

--------------------------------------------------------------------------------

10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES

CERTAIN SHARES* [ ]

--------------------------------------------------------------------------------

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

2.8%

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12. TYPE OF REPORTING PERSON*

00 - Limited Liability Company

CUSIP NO. 92644D100

SCHEDULE 13G

PAGE 4 OF 9 PAGES

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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION

NO. OF ABOVE PERSON

SPAC GP LLC

--------------------------------------------------------------------------------

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ]

(B) [ ]

--------------------------------------------------------------------------------

3. SEC USE ONLY

--------------------------------------------------------------------------------

4. CITIZENSHIP OR PLACE OF ORGANIZATION

DELAWARE

--------------------------------------------------------------------------------

5. SOLE VOTING POWER

NUMBER OF --------------------------------------------------

SHARES 6. SHARED VOTING POWER

BENEFICIALLY

OWNED BY 30,500

EACH --------------------------------------------------

REPORTING 7. SOLE DISPOSITIVE POWER

PERSON

WITH: 0

--------------------------------------------------

8. SHARED DISPOSITIVE POWER

30,500

--------------------------------------------------------------------------------

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

30,500

--------------------------------------------------------------------------------

10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES

CERTAIN SHARES* [ ]

--------------------------------------------------------------------------------

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

0.1%

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12. TYPE OF REPORTING PERSON*

00 - Limited Liability Company

CUSIP NO. 92644D100

SCHEDULE 13G

PAGE 5 OF 9 PAGES

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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION

NO. OF ABOVE PERSON

ANDREW M. WEISS, PH.D.

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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ]

(B) [ ]

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3. SEC USE ONLY

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4. CITIZENSHIP OR PLACE OF ORGANIZATION

USA

--------------------------------------------------------------------------------

5. SOLE VOTING POWER

NUMBER OF --------------------------------------------------

SHARES 6. SHARED VOTING POWER

BENEFICIALLY

OWNED BY 3,376,560

EACH --------------------------------------------------

REPORTING 7. SOLE DISPOSITIVE POWER

PERSON

WITH: 0

--------------------------------------------------

8. SHARED DISPOSITIVE POWER

3,376,560

--------------------------------------------------------------------------------

9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

3,376,560

--------------------------------------------------------------------------------

10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES

CERTAIN SHARES* [ ]

--------------------------------------------------------------------------------

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

8.3%

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12. TYPE OF REPORTING PERSON*

ITEM 1.

(a) Name of Issuer: Victory Acquisition Corp.

-----------------------------------

(b) Address of Issuer's Principal Executive Offices:

CUSIP NO. 92644D100

SCHEDULE 13G

PAGE 6 OF 9 PAGES

970 West Broadway
PMB 402
Jackson, Wyoming 83001

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ITEM 2.

(a) and (c): Name and Citizenship of Persons Filing:

(i) Weiss Asset Management LLC, a Delaware limited liability company

("Weiss Asset Management").

(ii) Weiss Capital LLC, a Delaware limited liability company

("Weiss Capital").

(iii) SPAC GP LLC, a Delaware limited liability company

("SPAC GP").

(iv) Andrew M. Weiss, Ph.D., a United States citizen.

(b): Address of Principal Business Office:

Weiss Asset Management, Weiss Capital, SPAC GP, and Dr. Weiss have a

business address of 29 Commonwealth Avenue, 10th Floor, Boston, MA 02116

(d) Title of Class of Securities: Common Stock

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(e) CUSIP Number: 92644D100

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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B), CHECK

WHETHER THE PERSON FILING IS A:

(a) [ ] Broker or Dealer registered under Section 15 of the Act

(15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(15 U.S.C. 78c).

(d) [ ] Investment Company registered under section 8 of the Investment

Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] Investment Adviser registered under section 203 of the Investment

Advisers Act or under the laws of any State

(f) [ ] Employee Benefit Plan, Pension fund which is subject to the

provisions of the Employee Retirement Income Security Act of

1974 or Endowment Fund; see Section 240.13d-1(b)(1)(ii)(F)

(g) [ ] A Parent Holding Company or control person, in accordance with

Section 240.13d-1(b)(ii)(G)(Note: See Item 7)

(h) [ ] A Savings Association as defined in Section 3(b) of the Federal

Deposit Insurance Act (12 U.S.C. 1813)

(i) [ ] A Church Plan that is excluded from the definition of an

investment company under Section 3(c)(14) of the Investment

Company Act of 1940 (15 U.S.C. 80a-3)

(j) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J)

CUSIP NO. 92644D100

SCHEDULE 13G

PAGE 7 OF 9 PAGES

ITEM 4. OWNERSHIP

Provide the following information regarding the aggregate number and

percentage of the class of securities of the issuer identified in Item I.

WEISS ASSET MANAGEMENT LLC*

(a) Amount Beneficially Owned: 2,222,514

-------------------------------------------

(b) Percent of Class: 5.5%

----------------------------------------------------

(i) sole power to vote or to direct the vote: 0

------------------------

(ii) shared power to vote or to direct the vote: 2,222,514

-----------------------

(iii)sole power to dispose or to direct the disposition of: 0

-----------

(iv) shared power to dispose or to direct the disposition of: 2,222,514

---------

WEISS CAPITAL LLC**

(a) Amount Beneficially Owned: 1,154,046

-------------------------------------------

(b) Percent of Class: 2.8%

----------------------------------------------------

(i) sole power to vote or to direct the vote: 0

------------------------

(ii) shared power to vote or to direct the vote: 1,154,046

-----------------------

(iii)sole power to dispose or to direct the disposition of: 0

-----------

(iv) shared power to dispose or to direct the disposition of: 1,154,046

---------

SPAC GP LLC***

(a) Amount Beneficially Owned: 30,500

-------------------------------------------

(b) Percent of Class: 0.1%

----------------------------------------------------

(i) sole power to vote or to direct the vote: 0

------------------------

(ii) shared power to vote or to direct the vote: 30,500

-----------------------

(iii)sole power to dispose or to direct the disposition of: 0

-----------

(iv) shared power to dispose or to direct the disposition of: 30,500

---------

CUSIP NO. 92644D100

SCHEDULE 13G

PAGE 8 OF 9 PAGES

ANDREW M. WEISS, PH.D.****

(a) Amount Beneficially Owned: 3,376,560

-------------------------------------------

(b) Percent of Class: 8.3%

----------------------------------------------------

(i) sole power to vote or to direct the vote: 0

------------------------

(ii) shared power to vote or to direct the vote: 3,376,560

-----------------------

(iii)sole power to dispose or to direct the disposition of: 0

-----------

(iv) shared power to dispose or to direct the disposition of: 3,376,560

-----------------------

* Shares reported for Weiss Asset Management include shares beneficially owned

by a private investment partnership of which Weiss Asset Management is the sole

general partner.

** Shares reported for Weiss Capital include shares beneficially owned

by each of a private investment corporation and private investment partnership,

of both of which Weiss Capital is the sole investment manager.

*** Shares reported for SPAC GP include shares beneficially owned by a private

investment partnership, of which SPAC GP is the sole general partner.

**** Shares reported for Andrew Weiss include shares beneficially owned by a

private investment partnership of which Weiss Asset Management is the sole

general partner and which may be deemed to be controlled by Mr. Weiss, who is

the Managing Member of Weiss Asset Management, and also include shares held by

a private investment corporation and private investment partnership, both of

which may be deemed to be controlled by Mr. Weiss, who is the managing member

of Weiss Capital, the Investment Manager of such private investment corporation

and private investment partnership. Dr. Weiss disclaims beneficial ownership of

the shares reported herein as beneficially owned by him except to the extent of

his pecuniary interest therein.

The percent of class computations are based on 40,500,000 shares of Common Stock outstanding as of November 14, 2008, as reported in the Company's report on Form 10-Qa filed with the Securities and Exchange Commission ("SEC") on November 14, 2008.

ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

If this statement is being filed to report the fact that as of the date

hereof the reporting person has ceased to be the beneficial owner of more than

five percent of the class of securities, check the following [ ].

ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

Not Applicable

ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE

SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL

CUSIP NO. 92644D100

SCHEDULE 13G

PAGE 9 OF 9 PAGES

PERSON

Not Applicable

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

Not Applicable

ITEM 9. NOTICE OF DISSOLUTION OF GROUP

Not Applicable

ITEM 10. CERTIFICATION

By signing below, I certify that, to the best of my knowledge and belief, the

securities referred to above were not acquired and are not held for the purpose

of or with the effect of changing or influencing the control of the issuer of

the securities and were not acquired and are not held in connection with or as a

participant in any transaction having that purpose or effect.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I hereby

certify that the information set forth in this statement is true, complete and

correct.

Dated: May 7, 2009

WEISS ASSET MANAGEMENT LLC

By: /s/ Georgiy Nikitin

-----------------------------------

Georgiy Nikitin, Chief Compliance Officer

WEISS CAPITAL LLC

By: /s/ Georgiy Nikitin

-----------------------------------

Georgiy Nikitin, Chief Compliance Officer

SPAC GP LLC

By: /s/ Georgiy Nikitin

-----------------------------------

Georgiy Nikitin, Chief Compliance Officer

By: /s/ Georgiy Nikitin

-----------------------------------

Attorney-in-Fact for Andrew Weiss