October 27, 2023
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
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
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
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
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
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.
July 21, 2022
Another cryptocurrency player succumbs to marketwide distress, Johnson & Johnson's bankrupt talc unit seeks a pause of talc suits brought by state attorneys general and a $21 million settlement in the liquidation of defunct law firm LeClairRyan is drawing appeals from the bankruptcy watchdog. This is the week in bankruptcy.
July 18, 2022
Life insurance-backed bond seller GWG Holdings Inc. received verbal approval from a Texas bankruptcy judge for a new, cheaper $65 million debtor-in-possession financing package that includes an option to sell the debtor's portfolio of life insurance policy assets for at least $610 million.