David Bennett Quoted in The Deal on Life Partners Bankruptcy

“Bankruptcy judge approves Life Partners’ trustee’s plan to use up to $25M as bridge loan”

Over the objection of its former CEO, Life Partners Holdings Inc.’s bankruptcy case trustee got approval Monday, Oct. 5, to proceed with an interim financing plan that allows him to spend up to $25 million while he firms up a reorganization plan.

Judge Russell Nelms of U.S. Bankruptcy Court in Fort Worth, Texas, harshly criticized former Life Partners CEO Brian Pardo for his attempt to derail what is shaping up to be a consensus plan to help the company exit from bankruptcy.

David Bennett, a partner with the Thompson & Knight LLP law firm in Dallas who represents trustee Tom Moran, said “we have thousands of investors in support” of the financing plan, saying none have expressed any objection.