GWG Holdings Undertakes Financial Restructuring

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Go back to GWG Holdings Undertakes Financial Restructuring

GWG Holdings (GWGH) files voluntary Chapter 11 petitions in U.S. Bankruptcy Court

April 20, 2022 8:01 AM EDT

GWG Holdings, Inc. (Nasdaq GWGH) (the Company), a financial services firm based in Dallas, Texas, today announced that the Company and certain of its subsidiaries have filed voluntary Chapter 11 petitions (the Chapter 11 Cases) in the U.S. Bankruptcy Court for the Southern District of Texas (the Court) as part of a restructuring process intended to enable the Company to enhance its liquidity and ability to meet its financial obligations, while maximizing the value of its assets. The subsidiaries that are debtors in the Chapter 11 Cases are GWG Life, LLC and GWG Life USA, LLC (together with the Company, the Debtors).

The... More