Tr?id=566623520170033&ev=PageView&noscript=1

GWG Holdings Announces Chapter 11 Bankruptcy

Posted on April 21st, 2022 at 12:10 PM
GWG Holdings Announces Chapter 11 Bankruptcy

From the Desk of Jim Eccleston at Eccleston Law:

GWG Holdings has filed for Chapter 11 bankruptcy. Its woes have included failing to submit its 2021 yearly report to the SEC in April because the firm has yet to employ a new auditor. 

The firm’s previous auditor, Grant Thornton, cut ties with GWG in December 2021, and the absence of an auditor had signaled that the company intended to seek bankruptcy protection. GWG Holdings sold nearly $1.6 billion in life settlement-backed bonds via several independent broker-dealers. However, GWG defaulted on $13.6 million in principal payments plus interest in February 2022, which were owed to investors of the firm’s L Bond series. 

On April 4, 2022, GWG Holdings shares tumbled nearly 16% to $4.48/share after news outlets began to report GWG’s plan to file for bankruptcy. By April 11, GWG shares were trading at $1.73/share. L Bond investors, which includes numerous retirees and older investors, are expected to suffer the most substantial losses amidst GWG’s bankruptcy filing. 

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

 
 

Tags: eccleston law, gwg holdings, sec

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

If you find yourself in trouble with the regulators, call Eccleston Law, you won't regret it.

Rick R.

LATEST NEWS AND ARTICLES

1775574785 Law
April 7, 2026
SEC Charges Long Island RIA and Executives in $138 Million Private Fund Scheme

A Long Island-based registered investment adviser and two of its senior executives now face parallel civil and criminal proceedings tied to an alleged scheme involving conflicted private fund investments, as reported by InvestmentNews.

1775496481 Law
April 6, 2026
FINRA Arbitration Panel Orders Fidelity to Pay $1.3 Million Over Structured Product Disputes

A Financial Industry Regulatory (FINRA) arbitration panel has ordered Fidelity Brokerage Services to pay approximately $1.3 million to two groups of clients who alleged misconduct tied to structured product investments, according to ThinkAdvisor.

1775253477 Law
April 3, 2026
FINRA Enforcement Trends Show Higher Monetary Sanctions Despite Fewer Cases in 2025

The Financial Industry Regulatory Authority (FINRA) increased total monetary sanctions in 2025, even as the number of enforcement actions declined.