Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance > Life Settlements

Texas Court Enjoins Settlement Firm

By Trevor Thomas

X
Your article was successfully shared with the contacts you provided.

A Texas district judge has ordered a temporary injunction against National Life Settlements L.L.C. and placed the company under the permanent receivership of Janet Mortenson, an attorney in Houston.

Judge Scott Jenkins, a judge in the Travis County, Texas, state district court, issued a preliminary order Feb. 13 naming Mortenson temporary receiver and allowing the state to seize about $20 million in bank accounts of National Life Settlements, Houston.

The court acted on the request of Texas Securities Commissioner Denise Voigt Crawford and Texas Attorney General Greg Abbott, which charged National Life Settlements with selling fraudulent life settlements through unregistered brokers and agents.

The injunction prohibits the firm and its officers from selling or transferring any assets of the business or from deleting or moving any of its records.

The court plans to hold a hearing April 28 on regulators’ request for a permanent injunction.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.