January 3, 2018
Nashville partner Shane G. Ramsey, Columbia partner B. Keith Poston, and Nashville associate John T. Baxter are representing Life Settlements Absolute Return I LLC (LSAR) in its Chapter 11 filing in the U.S. Bankruptcy Court for the District of Delaware.
LSAR has acquired life insurance policies since 2008 from wealthy policyholders who no longer needed the financial security they provided. The company bought the policies at less than they would yield at death, yet more than the policyholder would receive if they surrendered the policy to the insurer. But the company says the premiums for the policies became a larger burden than anticipated as the insureds were outliving their life expectancies.
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