---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-051587"
form_type: "8-K"
ticker: null
cik: "0001522690"
company_name: "GWG Holdings, Inc."
filed_at: "2023-06-26T23:59:59+00:00"
generated_at: "2026-06-13T17:02:09.094508+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# GWG Holdings bankruptcy plan confirmed; common stock cancelled, $1.8B liabilities vs $646M assets

## Summary
- Plan confirmed June 20, 2023; effective date targeted by July 31, 2023.
- All ~33.1M common shares to be cancelled; stockholders receive New Series E WDT Interests.
- CEO Jeffrey Stein gets $1.83M cash + 50K Beneficient shares; director Anthony Horton gets $120K.
- Monthly operating report (May 31, 2023): total assets $646.4M, total liabilities $1.8B.
- Wind Down Trust and Litigation Trust created to distribute remaining assets.

## SEC filing metadata
- accession: 0001213900-23-051587
- form_type: 8-K
- cik: 0001522690
- company_name: GWG Holdings, Inc.
- filed_at: 2023-06-26T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1522690/000121390023051587/0001213900-23-051587-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1522690/000121390023051587/ea179712-8k_gwgholdings.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-051587
- JSON: https://secwatch.observer/filing/0001213900-23-051587.json
- Plain text: https://secwatch.observer/filing/0001213900-23-051587.txt

## Key facts
- Distress & Bankruptcy
  GWG Holdings, Inc. entered chapter 11 in United States Bankruptcy Court for the Southern District of Texas (petition 2022-04-20).
  - Proceeding: chapter 11
  - Court: United States Bankruptcy Court for the Southern District of Texas
  - Petition: 2022-04-20
  source text: on April 20, 2022, GWG Holdings, Inc. (the “Company”) and certain of its subsidiaries (together with the Company, the “Debtors”) filed a voluntary petition for reorganization under chapter 11 of title 11 of the U.S. Bankruptcy Code (the “Bankruptcy Code”) in the Bankruptcy Court (the “Court”) for the Southern District of Texas (the “Chapter 11 Cases”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1522690/000121390023051587/0001213900-23-051587-index.htm
- Executive change
  Jeffrey S. Stein resigned as Chief Executive Officer at GWG Holdings, Inc..
  - Action: resigned
  - Role: Chief Executive Officer
  source text: on the Effective Date, the persons acting as officers, directors and employees of the Debtors will be deemed to have resigned under the applicable provisions of the Plan and bankruptcy and non-bankruptcy law.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1522690/000121390023051587/0001213900-23-051587-index.htm
- Executive change
  Anthony R. Horton resigned as Independent Director at GWG Holdings, Inc..
  - Action: resigned
  - Role: Independent Director
  source text: on the Effective Date, the persons acting as officers, directors and employees of the Debtors will be deemed to have resigned under the applicable provisions of the Plan and bankruptcy and non-bankruptcy law.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1522690/000121390023051587/0001213900-23-051587-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.