Dallas-Based Alternative Asset Firm Expected To Seek Bankruptcy Protection Very Soon
According to sources, GWG Holdings, Inc. (NASDAQ: GWGH) is preparing for Chapter 11 bankruptcy. The reports come after the Texas-based alternative asset firm notified the Securities and Exchange Commission (SEC) in an April 1, 2022 filing that it could not submit its 2021 yearly report and other financial statements. The firm has yet to retain an auditor since Grant Thornton stepped down from that role in December 2021.
Not having an auditor for this long can signify that a company is planning to seek bankruptcy protection. However, according to InvestmentNews, a GWG spokesperson refused to comment about such preparations when questioned.
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