GWG Holdings Unit Seeks Waiver of Default

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Along with receiving an NASDAQ stock exchange issued a letter notifying the firm it failed to comply with timely filing of annual financial reports, GWG Holdings is in more financial trouble.

GWG DLP Funding VI LLC changed its credit agreement with National Founders LP to include a waiver of default resulting from insufficient funds, trying to pretend, perhaps, that a default never occurred.

For what it's worth, GWG's January 2022 move to suspend payments to investors led the SEC to threaten the firm with default if it hadn't paid investors by the next month's regularly scheduled deadline on February 15. GWG, in turn, issued a simple statement on February 14 announcing it had suspended its L Bond sales...while still failing to hit that February 15 payment deadline.

This isn't even the first time GWG has suspended L Bond sales: it did so in 2021 as well when it again failed to miss an SEC filing deadline, calling the suspension a "pause" instead.

GWG remains under investigation by the SEC's Enforcement Division, an investigation that dates back to October 2020.

If you invested with a broker or financial adviser who nonetheless recommended GWG Holdings L Bonds—especially after GWG resumed L Bond sales after their 2021 suspension—and are now suffering losses due to GWG's impending collapse, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

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