Life Settlement Firm Files Ch. 11 With $117M Debt Swap Plan

Law360 (October 15, 2020, 10:53 AM EDT) -- Specialty finance company Emergent Capital Inc. on Thursday filed for Chapter 11 protection in Delaware bankruptcy court with plans to restructure $117 million in debt and transfer control of the company to an Irish subsidiary.

In its court filings, Emergent said the equity swap plan will allow it to escape debt that remains despite the emergence of its former Bermuda subsidiary and its Irish subsidiary from Chapter 11 in August 2019.

"In order to address Emergent's liquidity needs over the foreseeable future, it is Emergent's business judgment that a restructuring should be effectuated," Chief Financial Officer Miriam Martinez said in the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!