The following report provides a detailed, comprehensive analysis of the current net worth of gwg holdings. It is composed of several distinct sections that provide a streamlined and user-friendly way to understand the current valuation for this alternative investment vehicle.
What is the status of GWG L bonds?
According to a news article published in The Wall Street Journal, gwg holdings has missed $13.6 million in combined interest and principal payments to investors in its L Bond series of bonds. The company was reportedly preparing for bankruptcy to address its mounting debts, which may be in excess of $2 billion. The company’s problems began in 2019 when it missed filing deadlines with the SEC and its accounting firm resigned shortly thereafter.
As a result of these issues, the company’s L bonds ceased paying in 2022 and the company has since fallen behind on interest payments. Many of these bonds were sold to individual investors, who gambled their retirement savings on the risky and illiquid investments. According to reports, there is evidence that GWG misrepresented the risks of its L bonds and failed to disclose material information to investors.