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 the order confirming the Plan, which incorporated the Class Settlement. The Fifth Circuit held that the confirmation order eliminated Pillar’s objections to the Class Settlement. By failing to appeal the confirmation order, the Pillar Funds waived their complaints about the Class Settlement.

The PHT’s victory in the Pillar appeal marks the end of all litigation regarding the adoption of the Plan.