GWG Bankruptcy Litigation Trustee Strikes Proposed Deal with Beneficient 

The court-appointed litigation trustee overseeing the GWG Holdings bankruptcy has asked a federal judge to approve a settlement with its subsidiary Beneficient that would clear the way for the parties to jointly go after Beneficient’s former director and chief executive officer, Brad Heppner. 

A Dallas-based financial services firm that sells bonds backed by life insurance policies, GWG filed its Chapter 11 bankruptcy petition in April 2022. Dallas-based Beneficient is a financial services firm and a subsidiary of GWG Holdings. The proposed settlement with Beneficient comes in the wake of the company’s disclosures of “startling developments” the trustee said bolsters his own claims against Heppner.