David Bennett Quoted in The Deal Pipeline on Life Partners Victory

“Judge supports confirming Life Partners’ plan with Vida with waiver of early-termination fee”

After a long-running and contentious process, a bankruptcy judge gave his blessing Friday, Oct. 7, to a reorganization plan for Life Partners Holdings Inc. with Vida Capital Inc. providing the financing and servicing.

Judge Russell Nelms of U.S. District Court in Fort Worth, Texas, said only one relatively small item needed to be cleared up: the trustee plan proponents must either delete an early-termination fee for Vida on servicing work or send the plan back to 22,000 investors for re-solicitation.

But on virtually all points, the judge said he supported the plan, saying he believes it’s a superior plan with Vida and he was prepared to confirm it.