The Wind Down Trustee and Litigation Trustee provide a summary of major events on a quarterly basis regarding efforts to liquidate the Wind Down Trust assets and the pursuit of litigation by the Litigation Trust. Please see the link(s) to each quarterly Joint Status Report.

Background

On April 20, 2022, GWG Holdings, Inc. and several affiliates filed voluntary bankruptcy petitions under chapter 11 of the Bankruptcy Code.  On October 31, 2022, the DLP Debtors filed their own chapter 11 cases.  On June 20, 2023, the Court confirmed the Debtors’ joint Plan (the “Plan”)^[1] by entering its Findings of Fact, Conclusions of Law, and Order Confirming Debtors’ Further Modified Second Amended Joint Chapter 11 Plan (ECF. No 1952) (the “Confirmation Order”).  The Plan went effective on August 1, 2023 (the “Plan Effective Date”).  The Wind Down Trust and the Litigation Trust were created pursuant to the Plan.  Michael I. Goldberg was appointed as the trustee of the Litigation Trust. Elizabeth C. Freeman was appointed as the trustee of the Wind Down Trust (the “WDT Trustee”).  The Trusts are governed by the Plan, Confirmation Order, the GWG Wind Down Trust Agreement (the “WDT Agreement”) and the Litigation Trust Agreement.

The WDT Trustee is charged with liquidating the Wind Down Trust assets.  As of the Plan Effective Date, the Debtors’ approximately 26,000 investors, as well as other stakeholders (including all other general unsecured creditors), hold interests in the Wind Down Trust (collectively, the “WDT Interest holders”).  To extent available, WDT Interest holders will receive distributions from the Wind Down Trust in accordance with the Plan and WDT Agreement.