Bankruptcy Court Denies Summary Judgment That Financing Is a Loan and Not a Change of Control

BVLaw
Court Case Digests
October 3, 2023
6311 Life Insurance
524113 Direct Life Insurance Carriers
bankruptcy
cash flow, interest rate, summary judgment, exit

GWG Holdings, Inc. v. Fifth Season Investments, LLC (In re GWG Holdings, Inc.)
2023 Bankr. LEXIS 2453; 2023 WL 6449208
US
Federal Court
Texas
United States Bankruptcy Court
David J Abell
Marvin Isgur

Summary

The wind down trustee sought a summary judgment order in the form of a declaration that no sale or change of ownership or control occurred when the debtor entered into a DIP and exit loan agreements with a capital financing company. A change of ownership or control would result in the estate owing a break fee to Fifth Seasons Investment. The court denied summary judgment for reasons outlined in the opinion.

See Also

GWG Holdings, Inc. v. Fifth Season Investments, LLC (In re GWG Holdings, Inc.)

The wind down trustee sought a summary judgment order in the form of a declaration that no sale or change of ownership or control occurred when the debtor entered into a DIP and exit loan agreements with a capital financing company. A change of ownership or control would result in the estate owing a break fee to Fifth Seasons Investment. The court denied summary judgment for reasons outlined in the opinion.