Life Partners' Ch. 11 Reorganization Plan Confirmed
By Alex Wolf (November 2, 2016, 2:55 PM EDT) -- A Texas bankruptcy judge on Tuesday confirmed a Chapter 11 reorganization plan for Life Partners Holdings Inc. that was collectively filed by the debtor's court-appointed trustee and an official committee of unsecured creditors, offering relief to thousands of investors, the trustee announced.
U.S. Bankruptcy Judge Russell F. Nelms confirmed a third amended plan filed by trustee H. Thomas Moran II and the official committee of unsecured creditors after a five-week contested hearing, Moran said.
The approved arrangement, which was opposed by specified interest holders that won't receive distributions under the plan and others who are not members of a rescission settlement...
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