PHT distributed maturity funds collected in November

lpiweb17 Other News

On December 15, 2017, the PHT Trustee distributed maturity funds collected in November totaling $22.9 million (including the return of unused escrow funds) to the CFHs and the PHT. The policies distributed were Policy Nos. 7243, 8626, 8628, 13553, 13554, 22477, 25379, 26667, 29218, 30817, 39346, 64700, 70357, 75433, 78280, and 81177. As noted previously, the PHT Trustee did not …

PHT wins appeal of class settlement

lpiweb17 Other News

On November 29, 2017, the Fifth Circuit Court of Appeals ruled in favor of the PHT and dismissed an appeal of the Class Settlement by the Pillar Life Settlement Funds. The Pillar Funds objected to the class settlement that paved the way for the Plan and appealed the court’s approval of the settlement. The Pillar Funds did not, however, appeal …

PHT pays interest on NIRAN notes

lpiweb17 Other News

On December 15, 2017, the PHT made the first annual interest payment on the New IRA Notes. The annual interest on the notes is 3% of the note’s principal balance. For investors who hold New IRA Notes in their IRAs, the PHT sent checks to your IRA custodians. All other New IRA Note investors will receive a check at the …

12/8/2017 Litigation over Policy 77250

lpiweb17 Other News

The PHT is unable to distribute the proceeds of Policy 77250 at this time, due to a lawsuit filed in New York late last month. In the lawsuit, Shea Ostreicher claims that the sale of this policy to LPI in 2012 was invalid and that he is the actual owner of the policy. We will vigorously fight this suit. This …