Hundreds of Broker-Dealers May Have Sold Up to $2B of High-Yield Junk Bonds
InvestmentNews reports that according to an industry insider, GWG Holdings may have issued up to $2B of high-yield junk bonds in recent years. While Emerson Equity is the managing broker-dealer for the GWG Issuer, there may have been hundreds of other broker-dealers that also sold L-Bonds to investors.
In a January 15, 2022, filing with the US Securities and Exchange Commission (SEC), GWG disclosed that it hasn’t been able to issue $13.6M in principal payments and interest that it owes to L Bond investors. The Dallas-based-alternative asset manager has a 30-day grace period to complete the payments or risk default.
The post GWG Holdings Misses $13.6M in Payments to L Bond Investors appeared first on Investor Lawyers Blog.
from Texas Bar Today https://ift.tt/ZwVzWxS9j
via Abogado Aly Website
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