Life Partners Hits Ch. 11, Looks To Skirt $47M Judgment

By Stewart Bishop (January 20, 2015, 6:14 PM EST) -- Life Partners Holdings Inc. filed for Chapter 11 bankruptcy protection on Tuesday in a bid to buy time while it appeals a $47 million judgment the U.S. Securities and Exchange Commission secured against the life settlement provider.

Waco, Texas-based Life Partners Holdings said it chose to enter bankruptcy after the SEC asked the federal judge overseeing the underlying case to appoint a receiver over the company, which it claims could have resulted in its liquidation and prevented an effective appeal.

Life Partners CEO Brian Pardo called the bankruptcy filing "a strategic move" designed to protect company and shareholder value from harmful...

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!

TRY LAW360 FREE FOR SEVEN DAYS

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!