Life Partners Holdings announces cash details following effective date

By Caroline Salls

Pittsburgh, Jan. 26 – Life Partners Holdings, Inc.’s had a zero cash balance as of Dec. 31 after beginning the fourth quarter with a $222,933 balance, according to a report filed Thursday with the Securities and Exchange Commission.

The payments made during the quarter included $85,041 paid to general unsecured creditors under the company’s Chapter 11 plan and $137,902 in general business payments.

Meanwhile, the Life Partners Position Holder Trust ended the quarter with a $108.74 million cash balance.

The trust was established under the plan, which took effect on Dec. 9.

The Position Holder Trust is responsible for overseeing the liquidation of the company’s policy portfolio and distribution of the net proceeds to investors.

Waco, Texas-based Life Partners is engaged in the secondary market for life insurance. The company filed for bankruptcy on May 20, 2015 in the U.S. Bankruptcy Court for the Northern District of Texas. Its Chapter 11 case number is 15-40289.

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