Texas Judge OKs $1B Deal In Life Partners Investor Litigation

Law360, New York (May 31, 2016, 1:36 PM EDT) -- A Texas bankruptcy judge has approved a more than $1 billion deal floated by Life Partners Holdings’ court-appointed bankruptcy trustee to resolve class action litigation alleging that thousands of investors were duped into purchasing bad life insurance settlements with promises of big returns.

U.S. Bankruptcy Judge Russell F. Nelms signed off on a settlement Friday that covers legal claims brought on behalf of more than 20,000 investors, resolving a major hurdle in Life Partners Holdings Inc.’s quest to restructure after filing for bankruptcy early last year....
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Case Information

Case Title

Life Partners Holdings, Inc.


Case Number

4:15-bk-40289

Court

Texas Northern

Nature of Suit

Date Filed

January 20, 2015

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