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Beleaguered Life Partners Holdings (LPHI), appoints Scott Dubs as CFO. Mr. Dubs will succeed...

Beleaguered Life Partners Holdings (LPHI), appoints Scott Dubs as CFO. Mr. Dubs will succeed Dave Martin, who had served as LPHI's CFO since 2008, and brings 36 years of financial experience to the company, including 12 years as an auditor with Price Waterhouse Coopers and 24 years as CFO/VP of Finance of both public and private companies. Shares LPHI +0.5% AH.
Comments (4)
  • We hold an interest in 5 policies with Life Partners. All but one has gone to expensive premium calls. Their agent grossly misrepresented the investment to us and now does not return our calls or emails. Like so many others, we have found the LE estimates shown to us were 100% wrong. I am glad the insureds are living a longer life and I certainly am happy for them, but it would be nice to just get our original investment back from this company and the premiums we have had to pay in and wish the insureds an even longer and happier life. I'm hoping the hearing on the August 30 will give us some chance of that. The lawsuit filed by the state of Texas outlines just how this Company has been playing this shell game. I could not agree more with it's assertions.
    28 Aug 2012, 04:47 AM Reply Like
  • TexasGal I am sorry to read about your predicament and I have just posted your comment on one of the LinkedIn Life Settlement Discussion Groups and suggested that LPHI and its new CFO look at creating a new publicly-traded vehicle which would pool all the small life investors like yourself into one large pool to give you some liquidity once the market is provided with new independent updated LEs from a reliable underwriter with an established track record.
    As a former Director of MaxLife Fund which traded as MXFD on the OTC BB until it delisted, if LPHI is seriously interested in helping you
    and the other retail investors who allowed them to earn large up-front commissions through their sales, then they should contact MaxLife to see if they could use their public shell for this purpose.
    28 Aug 2012, 02:03 PM Reply Like
  • I a Canadian actuary who been involved with life settlements on both sides of the border for the last 20 years and a Director of MaxLife Fund a Wyoming corporation based in Toronto which purchased my Ontario corporation to go public in 2007 on the OTC BB at a listing price of $1.
    In Jan. 2009 I resigned after being appointed a Director in April 2008 over a dispute with the stock options I had been awarded. However I still think the premise of creating a publicly-traded liquid stock consisting of a independently-valued life settlement portfolio makes just as much sense as a REIT does for the retail investors.
    28 Aug 2012, 02:31 PM Reply Like
  • Scott Dubs was fired after 10 days on the job, so LPHI still has no CFO.

     

    Regarding the idea of a publicly trade vehicle of LPI sourced policies: NO WAY. Doing so is a post transaction entrepreneurial effort. This smacks of Howey's Third Prong, so LPI will never do it. Instead, the company will rely upon the resale efforts of the master licensees.
    13 Sep 2012, 09:22 PM Reply Like
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