GWG Senior Executives Resign Amidst Bankruptcy

Posted on November 29th, 2022 at 2:02 PM
GWG Senior Executives Resign Amidst Bankruptcy

GWG Holdings, the financial services firm that is facing Chapter 11 bankruptcy, has announced that the company’s chief executive officer, Murray Holland, and the company’s chief financial officer, Timothy Evans, have each resigned as executive officers. However, Holland and Evans remain as members of the board of directors of GWG. 

Furthermore, GWG has submitted an amended 8-k filing with the Securities and Exchange Commission (SEC). According to the filing, the investigations committee of the current board of directors reported that GWG had previously falsely reported that the resignations of former board members Roy Bailey, Daniel Fine, and Jeffrey MacDowell in March 2021 were not related to disagreements with GWG. The investigations committee informed the current board that the resigning officers had taken issue with certain parameters of a proposed investment GWG was contemplating, according to the updated filing. 

GWG has faced a series of resignations after the company filed for Chapter 11 bankruptcy in April 2022. GWG was involved in an SEC investigation earlier this year relating to how its L bonds were marketed to clients, which helped pave the path to bankruptcy as GWG struggled to raise additional capital. Shares of GWG have fallen from $10.55 to $1.03 over the past 12 months. 

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

Tags:

Return to Archive

TESTIMONIALS

Previous
Next

This was the best of all possible outcomes and I cannot thank you and the team enough.

Michael S.

LATEST NEWS AND ARTICLES

December 22, 2025
FINRA Overhauls Arbitration Rules to Rebalance Arbitrator Selection and Codify Forum Practices

The Financial Industry Regulatory Authority (FINRA) has approved significant amendments to its Codes of Arbitration Procedure designed to rebalance public arbitrator selection, increase transparency, and formalize several long-standing practices in the arbitration forum.

December 19, 2025
Industry Groups Press Senate at Advance Financial Exploitation Prevention Act

Several industry associations are urging the U.S. Senate to pass the Financial Exploitation Prevention Act, legislation that would allow mutual fund companies and their transfer agents to delay redemptions when they reasonably suspect elder financial abuse.

December 18, 2025
UBS Warns of Rising Default Risk in Private Credit

A UBS report signals that credit stress likely will intensify next year as borrowers confront inflation, elevated interest costs, and softening consumer conditions.