GWG Holdings files for bankruptcy
The market has been anticipating the move for more than two weeks; the company has struggled of late and repeatedly missed the deadline to file audited financial statements in the past couple of years.
As expected, GWG Holdings Inc., which sold $1.6 billion in bonds backed by life settlements through a network of independent broker-dealers, said it has voluntarily filed for Chapter 11 bankruptcy protection.
The company made the announcement Wednesday morning on its website. The market has been
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