On April 2, 2025, the GWG Wind Down Trust filed its status report with the United States Bankruptcy Court for the Southern District of Texas, providing crucial updates for GWG L Bond investors. This report details the Trust’s activities for the quarter and year ending December 31, 2024, revealing that…
**Updated: April 8, 2025** According to court filings, the GWG Litigation Trustee estimates that approximately $59.8 million of the $91.3 million in proposed settlements would be distributed to the GWG Wind Down Trust. The settlements require court approval. The $59.8 million in estimated net settlement proceeds represents about 3.69% of…
On February 15, 2024, the GWG Wind Down Trust filed a status report with the United States Bankruptcy Court for the Southern District of Texas for the quarter ending December 31, 2023. Although the status report did not include an updated financial statement, there are several key takeaways: The GWG…
On April 21, 2023, United States Bankruptcy Judge Marvin Isgur approved GWG’s Disclosure Statement that will be sent to creditors to vote on GWG’s Chapter 11 Plan (the “Plan”). The approval of the Disclosure Statement comes one year and one day after GWG filed for Chapter 11 bankruptcy protection in…
**Update – April 22, 2023:** On April 21, 2023, the Bankruptcy Court approved GWG’s further revised Disclosure Statement for its Second Amended Reorganization Plan. The Plan will now be sent to creditors, including L Bondholders, to accept or reject the Plan. For more information, please visit our most recent blog…
**Update: February 1, 2023** On February 1, 2023, the United States Bankruptcy Court for the Southern District of Texas unsealed several significant court filings, including a draft legal complaint. The complaint was filed by the Official Committee of Bondholders of GWG Holdings Inc. (“Bondholder Committee”) against certain current and/or former…