Current Report Filing (8-k)
April 09 2015 - 12:09PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): April 9, 2015
LIFE PARTNERS HOLDINGS, INC.
(Exact name of registrant as specified in
its charter)
Texas |
0-7900 |
74-2962475 |
(State or other jurisdiction
of incorporation) |
(Commission
File Number) |
(IRS Employer
Identification No.) |
204 Woodhew
Waco, Texas |
76712 |
(Address of principal executive offices) |
(Zip Code) |
Registrant’s telephone number, including
area code: (254) 751-7797
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2 below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 7.01 | Regulation FD Disclosure. |
On Monday, April 6, 2015, the United States Bankruptcy Court
for the Northern District of Texas (the “Court”) held a hearing on the motion of the Chapter 11 Trustee
(the “Trustee”) requesting authority to (1) amend company documents as necessary to appoint the Trustee
as sole director of Life Partners, Inc. (“LPI”) and LPI Financial Services, Inc. (“LPIFS”),
the operating subsidiaries of Life Partners Holdings, Inc. (“LPHI”), and (2) if the Trustee chooses to
do so, place LPI, LPIFS, and any other direct and indirect subsidiary into bankruptcy.
The Court heard the Trustee’s testimony regarding the
status of the Trustee’s initial work as Trustee of LPHI, including the Trustee’s efforts to:
| · | Investigate LPHI’s business enterprise, and prior business practices, with a particular emphasis on investigating the
allegations that resulted in the judgment entered in the SEC Action and led to the Trustee’s appointment; |
| · | Analyze and establish controls over the company’s current day-to-day business operations; |
| · | Formulate and implement an operational budget; and |
| · | Build a comprehensive list of creditors, investors and other parties in interest so that notice of the bankruptcy and other
developments may be provided as required by law. |
The Court granted the motion, and the Trustee is moving forward
to prepare to place LPI and LPIFS into bankruptcy.
The Trustee and his team will continue to work diligently to
review the entities’ books, records and the life insurance policies; be mindful of fees and expenses; and endeavor to keep
open lines of communication with the relevant parties, including the investors.
Please keep in mind that communicating with every investor would
be prohibitively expensive and therefore not practical. Therefore, in addition to communication with the official committee of
unsecured creditors, the Trustee will regularly post and update information on the Trustee’s website (lphitrustee.com), which
will include a list of Frequently Asked Questions.
Limitation on Incorporation by Reference:
In accordance with general instruction B.2
of Form 8-K, the information in this Item 7.01 is hereby furnished and shall not be deemed “filed” for the purposes
of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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LIFE PARTNERS HOLDINGS, INC. |
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Date: April 9, 2015 |
By: |
/s/ Colette Pieper |
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Colette Pieper President and Chief Executive Officer |
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