Former GWG Holdings Inc. bondholders sued over an undisclosed relationship between a onetime bankruptcy judge and an attorney involved in the life insurance company’s bankruptcy, alleging “unprecedented and systemic corruption.”
The once-secret relationship between former Houston bankruptcy judge David R. Jones and ex-Jackson Walker LLP partner Elizabeth Freeman allowed them and others to manipulate the company’s Chapter 11 case, secure lucrative appointments and fees, deplete GWG’s assets, and render bondholder investments nearly worthless, the plaintiffs alleged in a suit filed Thursday in the US District Court for the Southern District of Texas.
Jones, Freeman, Jackson Walker, and others deliberately kept ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.