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Life Partners Holdings, Inc., the parent company of Life Partners, Inc., a life settlement provider, has filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of Texas. The company is continuing to operate its business as a debtor-in-possession under the jurisdiction of the bankruptcy court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the bankruptcy court. Its primary operating subsidiary, Life Partners, Inc., is continuing to operate as a life settlement provider.

The company said that it elected to seek protection under Chapter 11 while it pursues an appeal of a $46 million judgment against the company and two of its executive officers in favor of the Securities and Exchange Commission.

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