Life Settlements' Securities Standing Still A Mystery
November 15, 2010, 12:18 PM EST
Law360, New York (November 15, 2010, 12:18 PM EST) -- There have been a few short articles written about a Sept. 27 decision by a federal magistrate judge in the U.S. District Court for the Northern District of Illinois, Eastern Illinois. The conclusion reached in the decision has been described as “life settlements are not securities when only a single investor is involved.”
However, we should limit our enthusiasm for the ruling until additional courts have had the opportunity to adjudicate similar issues with fact patterns not as unusual as those set forth in Zang. First,...