Thank you for visiting the website of H. Thomas Moran, the Chapter 11 Trustee for Life Partners Holdings, Inc.
As you have been notified, the Plan of Reorganization has been approved by the Court and became effective December 9, 2016. This means that the transition process has begun and my role as the bankruptcy trustee will soon come to an end. Bankruptcy rules allow for me to continue to offer my guidance and assistance for 135 days following the effective date of the Plan.
LPI operations are coming to a close and the new Position Holder Trust (“PHT”), headed by Eduardo S. Espinosa of Dykema Cox Smith in Dallas, has stepped in as the Trustee of the PHT to oversee the management, collection and distribution of funds from the policy portfolio. Mr. Espinosa has many years of experience with this type of portfolio, which has proved invaluable during this transition. Mr. Espinosa and his team have been in Waco working diligently to oversee the transition of systems and operations from the LPI entities to the PHT and the new servicer, Magna Servicing.
There is an indescribable amount of work required by the Plan in these early weeks. The Plan provides for a Post-Effective Date Reconciliation process that is due to continue for 135 days (April 24, 2017). In addition to collecting and reconciling the Catch-Up and PPDA payments and completing numerous other tasks required by the Plan, the process includes sorting, organizing and reconciling a great deal of data into new systems that support the reorganized structure.
Please contact Magna customer service (previously LPI) with any questions you may have.
By phone: 1-800-368-5569
By email: firstname.lastname@example.org