GWG Holdings, Inc.

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Case overview

Case Number:

4:22-bk-90032

Court:

Texas Southern

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

June 13, 2025
GWG Can Settle With Mayer Brown, Ex-Execs In $91.3M Deals

Failed life insurance-backed bond seller GWG Holdings Inc. won a Texas bankruptcy judge's approval Friday of four settlements totaling $91.3 million with parties including Mayer Brown LLP and the company's former directors, ending a slew of litigation nearly two years after the debtor confirmed a Chapter 11 plan.
June 06, 2025
What's Happening In Bankruptcy Court This Coming Week

Bankruptcy judges will hear arguments on approving the Chapter 11 plans of nursing facility operator Petersen Health Care and investment group The Aztec Fund, decide if satellite communications company Ligado Networks can send out its plan for a creditor vote, and determine if life insurance bond seller GWG Holdings can settle claims against directors for allegedly diverting company funds.
March 03, 2025
Holland & Knight Accused Of Assisting GWG Fraud

The estate trustee for bankrupt life insurance bond seller GWG Holdings Inc. has filed a suit accusing Holland & Knight LLP and its attorney William "Bill" Banowsky of helping GWG's ex-chairman run a "fraudulent looting scheme" that cost the company $100 million.
October 01, 2024
Foley & Lardner Accused Of Malpractice In GWG Transactions

Foley & Lardner LLP did not heed the fiduciary duty it owed to GWG Holdings when it facilitated loans and other transactions unfair to the life insurance-backed bond seller and, instead, enriched a group of "corrupt" shareholders, according to a lengthy adversary lawsuit filed in Texas bankruptcy court.
October 27, 2023
$1.3M Jackson Walker Award Delayed By Judge Jones Fallout

A federal bankruptcy watchdog has convinced a Houston judge to delay payment of $1.3 million in fees and expenses to Jackson Walker LLP following revelations of U.S. Bankruptcy Judge David R. Jones' cohabitation with a bankruptcy lawyer who until recently worked at the Texas firm.
March 31, 2023
GWG Needs Two Weeks For Additional Ch. 11 Disclosures

Attorneys for life insurance-backed bond seller GWG Holdings told a Texas bankruptcy judge Friday that it would need two additional weeks to provide additional disclosures about creditor recoveries requested by the court.
March 28, 2023
GWG Has Too Little Info In Ch. 11 Plan Disclosure, Judge Says

A Texas bankruptcy judge told life-insurance-backed bond seller GWG Holdings Inc. Tuesday that it needs to provide bondholders more information about their potential recoveries before he can approve sending its Chapter 11 plan out for a vote.
March 20, 2023
GWG Says It Will Have Ch. 11 Plan For Court In Days

Life-insurance-backed bond seller GWG Holdings Inc. told a Texas bankruptcy judge Monday it is days away from filing a liquidating plan after reaching a deal with bondholders on how to resolve its Chapter 11 case.
October 28, 2022
Celsius Network Gets OK To Auction, GWG To Raise Money

Crypto lender Celsius Network got the go-ahead to auction off its assets, bond seller GWG Holdings got permission to raise $630 million to pay back its bankruptcy loans and Axos Bank was hit with an $18.3 million verdict for pilfering MUFG Union Bank's Chapter 7 trustee deposit business. This is the week in bankruptcy.
October 27, 2022
GWG Can Pursue $630M Ch. 11 Financing Tied To Portfolio

Life-insurance-backed bond seller GWG Holdings Inc. received court approval Thursday of its decision to pursue a Chapter 11 financial transaction that will see it raise $630 million to pay off bankruptcy loans and provide liquidity for after it leaves insolvency court.

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