Quote:
Originally Posted by danglanzsr
I am an investor with Whitaker. GWG is in Chapter 11 reorganization (Southern District of Texas, cases 22-90032 and 22-90033) The L bonds have priority in the bankruptcy case and there is a high likelihood that the bonds will be paid since QWG has over a billion dollars in assets according to filings in the bankruptcy court. It is premature to claim that L bond investors have lost all their money. Therefore any law suit based on loss from the sale of the bonds would be premature. I am only addressing the GWG claims, not any other grievance others may have against Whitaker
|
Thank you for your response. Reading todays update I have very little hope for my parents. GWG has $1.2 Billion in L Bond debt. The life policies they own will not cover the bond debt. Now GWG is looking into Chapter 7 bankruptcy I am not sure what that does to the bondholders. The court again yesterday has not approved GWG plan.
This was a Ponzi scheme everything I have researched doesn't look like the bondholders will come out whole.
My question to my parents is why you trust GWG when we now know they are crooks. Why trust Whitaker when he had no business selling theses risky bonds to seniors.