WACO, Texas, July 14, 2015 (GLOBE NEWSWIRE) — Life Partners Holdings Inc. (NASDAQ:LPHI), or the “Company,” appear today that on July 2, 2015 the U.S. Defalcation Court entered an order, accepted as the “Bar Date Order,” establishing assertive deadlines for the filing of proofs of affirmation in the Company’s affiliate 11 case. Claims referenced herein are budgetary claims.
Pursuant to the Bar Date Order, except contrarily specified, all persons, entities and authoritative units who accept a affirmation or abeyant affirmation adjoin the Company that arose above-mentioned to May 19, 2015 charge book a affidavit of affirmation on or afore September 1, 2015 at 5:00 pm Central Time for accepted creditors and November 16, 2015 at 5:00 pm Central Time for authoritative units.
As allotment of these affairs and as appropriate beneath the U.S. Defalcation Code, on July 2, 2015, Life Partners Holdings beatific via capital U.S. mail, the Bar Date Apprehension to any abeyant creditor, or affair that may accept a budgetary affirmation adjoin the Company. To note, cancellation of the apprehension does not necessarily beggarly that a almsman has a claim.
Proofs of affirmation forms and a archetype of the Bar Date Adjustment may be acquired by visiting the Epiq website, the Company’s claims and apprehension agent, http://dm.epiq11.com/lifepartners or by calling 866-841-7869 or 1-503-597-5539 for all-embracing callers.
Proofs of affirmation should be beatific to, (i) if by capital mail, at the Life Partners Claims Processing Center, c/o Epiq Defalcation Solutions, LLC, P.O. Box 4421 Beaverton, Oregon, 97076-4421, or (ii) if by brief mail or duke delivery, to Life Partners Claims Processing Center, c/o Epiq Defalcation Solutions, LLC, 10300 SW Allen Blvd, Beaverton, Oregon, 97005.
Importantly, Epiq cannot admonish creditors or abeyant creditors how to file, or whether one should file, a affidavit of claim. In addition, claims will be bound via the Company’s Plan of About-face (“Plan”) which is accountable to Court approval. While the Company is alive agilely to move through this action as bound as possible, there is no set date for back the Plan will be filed or back claims will be accommodated and paid.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: This account absolution contains advanced statements as that appellation is authentic in the Private Balance Action Reform Act of 1995. These advanced statements accommodate statements that chronicle to the intent, beliefs, affairs or expectations of the Company, its subsidiaries or their corresponding management, as able-bodied as any estimates or projections for the aftereffect of contest that accept not yet occurred at the time of this account release. All statements added than statements of actual actuality are advanced statements. All advanced statements fabricated by the Company or its subsidiaries are predictions and not guarantees of approaching performance, absorb actual risks and uncertainties and are accountable to change based on factors that are difficult to adumbrate and that may be above the ascendancy of the Company or its subsidiaries. Such factors include, but are not bound to: those declared beneath the “Risk Factors” area and abroad in the Company’s accomplished filings with the Securities and Exchange Commission; the accident that the Company and its subsidiaries may not be able to auspiciously assassinate any cardinal steps, including for affidavit alfresco of the ascendancy of the Company, its subsidiaries or the Affiliate 11 Trustee; risks and uncertainties apropos to the defalcation filings by the Company and its subsidiaries, including but not bound to, (i) the adeptness of the Company and its subsidiaries to obtain Bankruptcy Court approval with account to motions in the Affiliate 11 cases including the Company’s subsidiaries advancement cardinal ascendancy as debtors-in-possession, (ii) the adeptness of the Company and its subsidiaries to prosecute, advance and able a plan of reorganization, (iii) the furnishings of the defalcation filings on the Company, its subsidiaries and on the interests of assorted constituents, (iv) Bankruptcy Court rulings in the Affiliate 11 cases as able-bodied the aftereffect of all added awaiting action and the aftereffect of the Defalcation case in general, (v) the breadth of time the Company and its subsidiaries will accomplish beneath the Affiliate 11 protection, (vi) risks associated with third affair motions in the Affiliate 11 cases, which may baffle with the adeptness of the Company and its subsidiaries to advance and able a plan of reorganization, (vii) the abeyant adverse furnishings of the Affiliate 11 affairs on the clamminess or after-effects of operations of the Company and its subsidiaries, (viii) the abeyant adverse furnishings of the Affiliate 11 affairs on authoritative and licensing agencies of our primary operating subsidiary, Life Partners, Inc., and (ix) added acknowledged costs to assassinate the about-face of the Company and its subsidiaries, and added risks and uncertainties. The Company cautions that trading in the Company’s balance during the pendency of the Affiliate 11 cases is awful abstract and poses abundant risks. A plan of about-face could aftereffect in the Company’s outstanding accepted banal to be adulterated or aished and the holders of the Company’s accepted banal may not accept any consideration. Accordingly, the approaching achievement and banking after-effects of the Company and its subsidiaries may alter materially and/or abnormally from those bidding or adumbrated in any such advanced statements. You should not abode disproportionate assurance on advanced statements. Neither the Company nor any of its subsidiaries will undertake to about amend or alter its advanced statements alike if acquaintance or approaching changes accomplish it bright that any projected after-effects bidding or adumbrated therein will not be realized.
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