Judge Approves Life Partners Reorganization Plan

Judge Approves Life Partners Reorganization Plan

A federal judge last week gave his approval to a reorganization plan for Life Partners Holdings Inc., a life settlement company that filed for bankruptcy last year following reports that the company has engaged in allegedly fraudulent practices – practices that were described by the Wall Street Journal earlier this year as “one of the largest frauds in Texas.”

Under the reorganization plan, another life settlement company, Vida Capital, would take over and several thousand investors would have the option to cancel or keep their life settlement investments.

Life Partners is based in Waco, Texas, and one report on the reorganization plan approval is available here from the Waco Tribune.

Earlier Secondary Market Insurance Blog posts about Life Partners, allegations of fraud, and the bankruptcy proceedings, are available here, here, and here.

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