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Life Partners Holdings Inc. won’t immediately have to entertain competing bids to reorganize its assets, which include stakes in life insurance policies with a face value of $2.4 billion. The bankrupt dealer of so-called “life settlements” can retain exclusive control of its Chapter 11 case for now, U.S. Bankruptcy Judge Russell Nelms ruled Friday in Ft. Worth, Texas. The decision blocks parties seeking control of the firm’s assets, including Vida Capital Inc., from filing reorganization plans of their own.
Life Partners Holdings Inc, which deals in the secondary market for life insurance, said it filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Northern District of ...