8-K Filed

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An 8-K was filed by the Trust with the Securities & Exchange Commission on February 4, 2019 and is accessible now on the Investor Relations page.

Line of Credit Secured

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Effective January 30, 2019, the Trust executed a new $15 million line of credit, secured by Trust assets, with Veritex Community Bank to be used in the future should a need ever arise.

Exit Facility Paid in Full

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Effective January 17, 2019, the Trust fully paid all obligations remaining under its $55 million Exit Loan Facility with Vida Capital, Inc. As a result, all of Vida Capital Inc.’s liens against Trust assets were released.

Newsletter Status Update

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Along with input from the Board, the Trustee has determined that information previously provided by the newsletter will now be posted directly to the website or contained in the public filings. Important announcements will be periodically posted as a “Trustee Update.” This decision was driven by cost and as time moves on, fewer items are newsworthy each month. 

New Trustee Appointed

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On December 13, 2018, the Life Partners Position Holder Trust Governing Trust Board appointed a new trustee. The Board selected Michael J. Quilling, an attorney at Quilling, Selander, Lownds, Winslett and Moser, P.C. in Dallas, Texas. Mr. Quilling functions as a receiver throughout the U.S. and Canada. He also represents financial institutions, companies and individuals in all aspects of bankruptcy matters …

Offer to Purchase from Contrarian Funds, L.L.C.

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Contrarian Funds, L.L.C. (”Contrarian”) has made an Offer to Purchase up to 19,745,000 Units of Life Partners Position Holder Trust ( “PHT units”) and up to 35,545,000 Units of Life Partners IRA Holder Partnership, LLC (“IRA Partnership units”) at a price of $0.16 per unit for the PHT and IRA Partnership units. Contrarian has mailed you documents related to the …

Tender Offer from Life Settlement Liquidity Option LLC

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Life Settlement Liquidity Option, LLC (the “Offeror”) has made a tender offer to purchase up to 150,375,940 PHT units and up to 225,563,910 IRA Partnership units at a price of $0.133 per unit for the PHT and IRA Partnership units. The Offeror has mailed you documents related to the tender offer, including the forms you will need to submit if …

PHT Prevails in Ostreicher Litigation

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The PHT won a victory in its litigation with Shea Ostreicher over the proceeds of policy 77250, a $5 million policy that matured last year. On November 8, the bankruptcy court found that Ostreicher was in contempt of court by filing and continuing to prosecute his suit in New York. The court ordered Ostreicher to do the following things: · …

Third Quarter 10-Q

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We filed our third quarter 10-Q on November 13th. It is posted on the Investor Relations page and available for you to download.

Discount required by Section 5.05(c) of the Plan

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The Plan requires that the Continuing Fractional Holders (CFHs) pay premium calls within 60 days of the day the PHT sends an invoice. The failure of a CFH to timely pay a premium call on a position results in a premium default on that position. Upon a premium default, the CFH is deemed to have contributed its position to the …