Introduction On November 14, 2023, Beneficient (“BENF” or “the company”) filed its quarterly report for the third quarter of 2023. In the report, Beneficient admitted that its goodwill, which was previously reported on GWG’s balance sheet, had been overvalued by $1.4 billion. Accordingly, BENF wrote the value of the goodwill down from $2.4 billion to…
Continue reading ›It Is Virtually Impossible That GWG L-Bond Investors Will Get What They Were Owed As most L-Bond holders know, GWG entered “Chapter 11 bankruptcy” in 2021. That means GWG admitted that it would probably not be able to pay its debts. The bankruptcy allowed GWG to “restructure” its debts to L-Bond holders. As a result,…
Continue reading ›We’ve previously written about the downfall of GWG L-Bonds. We also previously wrote about how we know GWG L-Bond investors have already lost most of their investment. In this blog post, we’ll explore a simple formula called the “Altman Z-Score,” which shows how anybody could have (and should have) known that GWG L-Bonds were extremely…
Continue reading ›Last month, we noted that GWG L-Bond investors had already lost most of their money. In October 2023, the status of GWG-L Bond investments has continued to decline. As we noted in our previous blog post, GWG’s bankruptcy allowed the company to re-structure the debts it owed to L-Bond holders. As a result, L-Bond investors…
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