Texas Can't Bring Receiver Into Life Partners Fraud Case

Law360, New York (August 20, 2012, 10:18 PM EDT) -- A Texas judge on Monday refused to grant the Texas attorney general's request to appoint a receiver for Life Partners Holdings Inc. in the state's suit accusing the insurer of selling fraudulent, unregistered securities.

Judge Orlinda Naranjo's ruling will allow Life Partners to conduct its business as usual at least until an Aug. 30 hearing on the state's petition for a temporary injunction, the insurer said in a statement.

“The result of the hearing is that we can continue our business as usual,” Life Partners Chairman...
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