GWG Holdings, Inc.

  1. October 01, 2024

    Foley & Lardner Accused Of Malpractice In GWG Transactions

    Foley & Lardner LLP did not heed the fiduciary duty it owed to GWG Holdings when it facilitated loans and other transactions unfair to the life insurance-backed bond seller and, instead, enriched a group of "corrupt" shareholders, according to a lengthy adversary lawsuit filed in Texas bankruptcy court.

  2. October 27, 2023

    $1.3M Jackson Walker Award Delayed By Judge Jones Fallout

    A federal bankruptcy watchdog has convinced a Houston judge to delay payment of $1.3 million in fees and expenses to Jackson Walker LLP following revelations of U.S. Bankruptcy Judge David R. Jones' cohabitation with a bankruptcy lawyer who until recently worked at the Texas firm.

  3. March 31, 2023

    GWG Needs Two Weeks For Additional Ch. 11 Disclosures

    Attorneys for life insurance-backed bond seller GWG Holdings told a Texas bankruptcy judge Friday that it would need two additional weeks to provide additional disclosures about creditor recoveries requested by the court.

  4. March 28, 2023

    GWG Has Too Little Info In Ch. 11 Plan Disclosure, Judge Says

    A Texas bankruptcy judge told life-insurance-backed bond seller GWG Holdings Inc. Tuesday that it needs to provide bondholders more information about their potential recoveries before he can approve sending its Chapter 11 plan out for a vote.

  5. March 20, 2023

    GWG Says It Will Have Ch. 11 Plan For Court In Days

    Life-insurance-backed bond seller GWG Holdings Inc. told a Texas bankruptcy judge Monday it is days away from filing a liquidating plan after reaching a deal with bondholders on how to resolve its Chapter 11 case.

  6. October 28, 2022

    Celsius Network Gets OK To Auction, GWG To Raise Money

    Crypto lender Celsius Network got the go-ahead to auction off its assets, bond seller GWG Holdings got permission to raise $630 million to pay back its bankruptcy loans and Axos Bank was hit with an $18.3 million verdict for pilfering MUFG Union Bank's Chapter 7 trustee deposit business. This is the week in bankruptcy.

  7. October 27, 2022

    GWG Can Pursue $630M Ch. 11 Financing Tied To Portfolio

    Life-insurance-backed bond seller GWG Holdings Inc. received court approval Thursday of its decision to pursue a Chapter 11 financial transaction that will see it raise $630 million to pay off bankruptcy loans and provide liquidity for after it leaves insolvency court.

  8. July 21, 2022

    Crypto Dominos Keep Falling, J&J Wants Talc Injunction

    Another cryptocurrency player succumbs to marketwide distress, Johnson & Johnson's bankrupt talc unit seeks a pause of talc suits brought by state attorneys general and a $21 million settlement in the liquidation of defunct law firm LeClairRyan is drawing appeals from the bankruptcy watchdog. This is the week in bankruptcy.

  9. July 18, 2022

    GWG Approved For New Ch. 11 Financing With Sale Option

    Life insurance-backed bond seller GWG Holdings Inc. received verbal approval from a Texas bankruptcy judge for a new, cheaper $65 million debtor-in-possession financing package that includes an option to sell the debtor's portfolio of life insurance policy assets for at least $610 million.