{"id":28503,"date":"2022-08-25T09:00:24","date_gmt":"2022-08-25T14:00:24","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=28503"},"modified":"2022-08-22T13:08:22","modified_gmt":"2022-08-22T18:08:22","slug":"us-court-approves-new-financial-package-for-gwc-holdings","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/us-court-approves-new-financial-package-for-gwc-holdings\/","title":{"rendered":"Texas Bankruptcy Judge Approves New Chapter 11 Financing Option for GWG Holdings"},"content":{"rendered":"<h2><span style=\"font-weight: 400;\">New Financing Package Is Still No Guarantee of Financial Recovery for 27,000 L Bond Investors<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The Texas Southern Bankruptcy Court has approved a new debtor-in-possession financing package for GWG Holdings. The alternative asset firm, which sold $1.6B of L Bonds to investors, filed for Chapter 11 bankruptcy protection in April 2022. Not long after, a judge at the US Bankruptcy Court in Houston allowed GWG to borrow a $10M emergency loan from <\/span><span style=\"font-weight: 400;\">National Founders LP to avoid immediate liquidation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This new verbally approved financing package is for $65M and offers the option to sell GWG\u2019s life insurance asset portfolio for at least $610M\u2014<\/span><i><span style=\"font-weight: 400;\">that\u2019s $1B less than what L Bond investors are owed<\/span><\/i><span style=\"font-weight: 400;\">. It takes the place of another $65M financing package deal, includes lower interest rates and fees, and provides other protections. The loan is to be issued by Chapford SMA Partnership LP.\u00a0<\/span><\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/us-court-approves-new-financial-package-for-gwc-holdings\/\"  title=\"Continue Reading Texas Bankruptcy Judge Approves New Chapter 11 Financing Option for GWG Holdings\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>New Financing Package Is Still No Guarantee of Financial Recovery for 27,000 L Bond Investors The Texas Southern Bankruptcy Court has approved a new debtor-in-possession financing package for GWG Holdings. The alternative asset firm, which sold $1.6B of L Bonds to investors, filed for Chapter 11 bankruptcy protection in April 2022. Not long after, a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":28504,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3762,4693],"tags":[4684,4728],"class_list":["post-28503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-investigations","category-gwg-holdings","tag-gwg-holdings","tag-gwg-l-bond"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>US Court Approves New Financial Package for GWC Holdings<\/title>\n<meta name=\"description\" content=\"Texas Bankruptcy Judge approves new financial package to pay for the investment and bond losses of 27,000 L bond investors. Learn more here.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/us-court-approves-new-financial-package-for-gwc-holdings\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"US Court Approves New Financial Package for GWC Holdings\" \/>\n<meta name=\"twitter:description\" content=\"Texas Bankruptcy Judge approves new financial package to pay for the investment and bond losses of 27,000 L bond investors. 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Learn more here.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2022\/08\/A-person-signing-a-document.jpg","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/us-court-approves-new-financial-package-for-gwc-holdings\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/us-court-approves-new-financial-package-for-gwc-holdings\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Texas Bankruptcy Judge Approves New Chapter 11 Financing Option for GWG Holdings","datePublished":"2022-08-25T14:00:24+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/us-court-approves-new-financial-package-for-gwc-holdings\/"},"wordCount":608,"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/us-court-approves-new-financial-package-for-gwc-holdings\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2022\/08\/A-person-signing-a-document.jpg","keywords":["GWG Holdings","GWG L Bond"],"articleSection":["Current Investigations","GWG Holdings"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/us-court-approves-new-financial-package-for-gwc-holdings\/","url":"https:\/\/www.investorlawyers.com\/blog\/us-court-approves-new-financial-package-for-gwc-holdings\/","name":"US Court Approves New Financial Package for GWC Holdings","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/us-court-approves-new-financial-package-for-gwc-holdings\/#primaryimage"},"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/us-court-approves-new-financial-package-for-gwc-holdings\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2022\/08\/A-person-signing-a-document.jpg","datePublished":"2022-08-25T14:00:24+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Texas Bankruptcy Judge approves new financial package to pay for the investment and bond losses of 27,000 L bond investors. 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