PHT Website Enhancements

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In recent weeks, we’ve made a number of revisions to the PHT website in order to make this site more accessible and easier to navigate. One significant change was made in response to investor requests for improved visibility into maturities. We have added new tools to the Maturities Tables published on the site so they are now sortable and searchable, …

2017 Form 1099s delivered this week

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The Position Holder Trust is in the process of delivering Form 1099s for 2017. These forms reflect payments by either Life Partners, Inc. or the Position Holder Trust during 2017. As with the Form 1099s sent for 2016, we report the gross amount paid only. We cannot determine how much of the payment is taxable to the recipient. The amount …

2017 Year-End Statements

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Magna will post 2017 year-end statements for each investor on the Investor Portal on Tuesday, January 16, 2018. We will not mail or e-mail the statements, so investors will need to log on to the Portal to get their statements. Investors who lack internet access should call Magna customer service to obtain a copy of their statement.

Litigation over Policy 23150

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The PHT is unable to distribute the proceeds of Policy 23150 at this time, due to a lawsuit filed by the insured’s family in Florida. This policy is a Federal Employees’ Group Life Insurance (FEGLI) policy that Life Partners purchased in 2002. At the time that it purchased the policy, the insured assigned the policy to Life Partners in accordance …

PHT distributed maturity funds collected in November

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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

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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

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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 …