I hear Michael L Whitaker and Associates is still giving rubber chicken dinners to entice new "clients" to his firm. Oh, I guess I miss spoke they are "Informational Seminars" not rubber chicken dinners.

My guess he will never stop them as all as he is still in business.
I hope all is well with you. You stated that you had surgery I hope you are healing fast.

July 2023 Update: Looks like if my parents get anything back it will take serval years because GWG and BENE which is their largest asset is in downward financial spin. What I have found out you have 6 years to make a FINRA arbitration against your Broker.
Please read.
GWG Bankruptcy Update (July 14, 2023): The Residual Value of the GWG L Bonds Remain Suspect as Beneficient Receives a Wells Notice from the SEC — Securities Arbitration Lawyer Blog — July 14, 2023

GWG L Bonders holders there is another hiccup in there pay back plan. As you remember GWG Chairman Bradley Heppner moved over $360 million of L Bond Holder fund to Beneficient Company Group. The company Beneficient was supposed to be a big part of paying the L Bond Holders back.
Here's the bad news BENE went from its top value at $16.50 in 2021 a share to today value of $2.40 a share the company is now valued at $70 million. GWG total debt is $1.3 billion to L Bond Holders and $70 million to other debtors.
Now how will GWG pay back L Bonds did Heppner ever plan on paying the Bold Holders. He now is trying a crack at his new company AltAccess.
With the stock at all time low I just can see a return of funds to GWG L Bonds Holders anytime soon if ever.
Remember you only have 6 six years from the time you bought your L Bonds to submit a complaint to FINRA.

Big article on GWG in today's WSJ (7/29). Front page and most of page 10....

Very interesting read......

Thank you, unfortunately I can't find the article. Are you able to post it.

I filed my FINRA complaint in April. Everyone should file and maybe we can help each other by showing FINRA arbitrators that there are many of us that have been lied to, lied about, and cheated by Michael L Whitaker, and Michael L Whitaker and Associates.

Did you read the Wall Street Journal article on GWG I have not been able to find it

Latest
 

MSM has a similar article

GWG Bankruptcy Update (July 14, 2023): The Residual Value of the GWG L Bonds Remain Suspect as Beneficient Receives a Wells Notice from the SEC — Securities Arbitration Lawyer Blog — July 14, 2023.

Basically Beneficient is off the hook for its bailout attempt and GWG must liquidate?

An Asset-Management Merger Ended in Bankruptcy, While Its Architect Got $174 Million - WSJ

If you were sold L Bonds you should read this. This is the guy that GWG and BENF is trusting to pay all the bond holders back. Read this and see if you believe you still have a chance of any recovery.

FYI BENF is now at $1.70 a share, seems that the company that was here to save the bond holders is circling the drain.

Another one of Michael Whitaker safe investments Gladstone takes a big loss. Gladstone went public and there was an immediate loss of approximately 25%. How many millions of millions of dollars have you lost Michael in all these safe investments? It's so shameful.

Finra
 

You should file with FINRA as soon as possible. I started mine back in April and because I asked for expedited handling, which was approved due to age, It is still not scheduled for a hearing. I do expect this to change soon since the arbitrator has been assigned and there is nothing else that needed to happen before the hearing.

GWG does not have enough to pay off the bond holders. The life policies they still have left doesn't cover half of what they owe. If the bond holders get one-fourth back, I would be surprised.
What a mess, the chairman of GWG Bradley Heppner is a piece of work.

It’s really sad to hear people who placed their personal trust and retirement assets with these self-serving predators will likely lose most, if not all, of their investment in these risky bonds.
Michael Whitaker and others should be ordered to divest all of the compensation they received on the sale of these highly risky bonds.
Mr. Whitaker now has his 5th disclosure on his form ADV form which will follow him forever. Unfortunately, I suspect few of his victims know to review this online.

So how does this work GWG is suing Beneficent when they are run by the same people??????

What are GWG’s Assets?

GWG has only four primary assets: (1) its portfolio of life insurance policies; (2) equity interest in FOXO, (3) equity interest in Beneficient; and (4) potential legal actions against third parties, primarily Beneficent.

The Wind Down Trust will hold the portfolio of life insurance policies and the company’s equity interests in FOXO and Beneficent and make efforts to monetize those assets over time. The sale of these assets may take several years, and the amount that GWG will recover remains uncertain.

According to GWG’s analysis in the bankruptcy proceedings, the projected net residual value from the sale of the life insurance policies is projected to be $0 to $78 million, and the equity interest in FOXO is nominal, $3.3 million.

With over $1.3 billion owed to L Bondholders, for the L Bonds (now New Series A1 WDT Interests) to have any significant residual value, GWG must monetize its equity interest in Beneficient or its legal claims against third parties.

How and when GWG will be able to monetize its equity interest in Beneficient remains uncertain and speculative.

Since going public on June 8, 2023, and opening at $15 on the first day the new BENF traded, the stock price has plummeted to under $2 per share.

To read more about the residual value of the L Bonds, please see our blog post from mid-July: GWG Bankruptcy Update (July 14, 2023): The Residual Value of the GWG L Bonds Remain Suspect as Beneficient Receives a Wells Notice from the SEC.

We continue to believe that GWG L Bonds investors’ best avenue for potential recovery of losses is to file a separate FINRA arbitration claim against their brokerage firms. If you would like more information about how to file a claim, please respond to this email to schedule a free and confidential consultation.

To read more about the alleged misconduct, please visit our other blog posts:

What L Bondholders Need to Know About GWG Holdings, Inc.’s Chapter 11 Plan

Broker-Dealers Sold GWG L Bonds Using Aggressive and Misleading Marketing

“GWG Was a Classic Ponzi Scheme” – Official Committee of Bondholders of GWG Holdings, Inc.