Articles Posted in GWG

Beneficient’s Quarterly Report Shows GWG’s Goodwill Was Overvalued By $1.4 Billion
Banks Law Office

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 ›
Posted in: GWG
GWG L-Bond Investments Are Nearly Worthless. Here’s How It Happened.
Banks Law Office

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 ›
Altman’s Z Score Shows GWG’s High Risk Of Bankruptcy In 2018
Banks Law Office

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 ›

Client Reviews

I had no clue where to turn for help. Banks was tough but polite. I give the man my total respect and unlimited endorsement. To me, he achieved the impossible.


Thank you for all you did to represent us. For me you represent all that is good in the Law profession. You were honest, fair, hard working, and ethical. What more can you ask? Once again thank you for all you did.


Hope you have had a great year and we wish you and yours the best in the Holiday season. We fondly and gratefully remember all the efforts you made on behalf of N*** and I. Without a doubt our lives have been changed forever by meeting you.

A Banks Law Client, 8 years later

No Recovery, No Fee

Fill out the contact form or call us at 503-222-7475 to schedule your free consultation.

Leave Us a Message