Tr?id=566623520170033&ev=PageView&noscript=1

ÍøÆØ³Ô¹Ï

GWG Holdings Announces Chapter 11 Bankruptcy

Posted on April 21st, 2022 at 12:10 PM
GWG Holdings Announces Chapter 11 Bankruptcy

From the Desk of Jim Eccleston at ÍøÆØ³Ô¹Ï:

GWG Holdings has filed for Chapter 11 bankruptcy. Its woes have included failing to submit its 2021 yearly report to the SEC in April because the firm has yet to employ a new auditor. 

The firm’s previous auditor, Grant Thornton, cut ties with GWG in December 2021, and the absence of an auditor had signaled that the company intended to seek bankruptcy protection. GWG Holdings sold nearly $1.6 billion in life settlement-backed bonds via several independent broker-dealers. However, GWG defaulted on $13.6 million in principal payments plus interest in February 2022, which were owed to investors of the firm’s L Bond series. 

On April 4, 2022, GWG Holdings shares tumbled nearly 16% to $4.48/share after news outlets began to report GWG’s plan to file for bankruptcy. By April 11, GWG shares were trading at $1.73/share. L Bond investors, which includes numerous retirees and older investors, are expected to suffer the most substantial losses amidst GWG’s bankruptcy filing. 

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

 
 

Tags: eccleston law, gwg holdings, sec

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I want to extend a tremendous thank you for your dedication, professionalism, hard work and patient demeanor through this challenging time. It was enjoyable interacting with everyone on your team, this certainly helped while dealing with the situation and working towards resolution.

Dan M.

LATEST NEWS AND ARTICLES

1778521728 Law
May 11, 2026
Private Credit Funds Face Rising Redemptions and Valuation Scrutiny

Investor pressure on private credit funds continues to intensify as redemption requests increase and concerns emerge over how firms value underlying loan portfolios.

1778517375 Law
May 11, 2026
SEC Reports Decline in Enforcement Actions as Leadership Refocuses on Investor Harm

The U.S.

1778171646 Law
May 7, 2026
FINRA Bars Former Raymond James Broker for Refusing Testimony in Unauthorized Trading Probe

A former registered representative with Raymond James has been barred from the securities industry after refusing to cooperate with a Financial Industry Regulatory Authority (FINRA) investigation into alleged unauthorized trading activity.