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GWG files for Bankruptcy, Investor Should Consider Their Recovery Options

On April 20, 2022, GWG Holdings, Inc. filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of Texas. In February 2022, the company, which sold $1.6B in life-settlement backed bonds defaulted.

GWG has more than $2 billion in overall liabilities as of September 2021, along with $1.55 billion in L Bonds.

Aidikoff, Uhl & Bakhtiari represents investors who purchased L Bonds of GWG Holdings Inc. (GWGH), through representatives of Emerson Equity LLC and other financial service firms.

Representatives of Emerson Equity allegedly recommended the L Bonds as safe with a 5% interest rate which was suitable and appropriate for retired and other conservative income investors. L Bonds were actually speculative income paying investments due to the distressed financial condition of the issuer of the bonds.

Emerson Equity was the lead broker-dealer and underwriter of L Bonds. Emerson Equity has offices in Irvine, Glendale, Woodland Hills, Los Angeles and San Diego, California.

If you are an investor that lost more than $100,000 in GWG L Bonds you should consider all legal options. If you wish to discuss your particular situation and the potential for the recovery of your investment losses, or you have information of interest, please contact us for an evaluation of your potential case.