TRANSPARENCY ALLIANCE

A New Direction: Choice, Safety, Experience

Who We Are

Transparency Alliance, an affiliate of BroadRiver Asset Management, L.P., was formed for the purposes of offering a safer, more cost-effective reorganization plan for the bankruptcy of the former Life Partners Holdings, Inc. (LPI). The team at Transparency Alliance has managed life insurance settlement investments for some of the world’s largest institutional investors since 2002. We are successful because we are meticulous in our analysis and we understand the complexities of these assets. We also offer former LPI investors institutional-grade servicing that meets exceptionally high standards and includes a system of independent checks and balances.

Reclaiming What’s Yours

Transparency Alliance has won the right to offer a plan to creditors as an alternative to the Trustee’s plan. We offer creditors of LPI the opportunity to seek a new direction and reclaim power over their assets. We know from recent history a new approach is needed and that only new thinking can achieve a more reliable and secure outcome. One insolvency is bad. Two is unforgivable.

We have listened to you, the investors, and based on your needs, we have designed a plan that is cheaper and safer than the competing plan. We have drawn from decades of experience in this field to offer a plan that not only safely recovers your assets, but protects the value of your investments for years to come. It benefits you whether you choose to continue holding your own interests and paying your own premiums, or exchange your interests for units of a pool which requires no further premium payments.

We ask you to vote for the Transparency Alliance Plan and against the Trustee’s plan. Under Transparency Alliance’s plan:
  • Investors would immediately be paid all escrowed maturity proceeds.
  • Investors have the option of retaining their entire investments, pooling their investments under Transparency Alliance’s best-in-class professional investment management, or rescinding their investments altogether.
  • Transparency Alliance would provide debtor-in-possession financing and exit financing which, when combined with its life settlement expertise and track record of successful investment management, would prevent the Life Partners Holdings portfolio from falling into bankruptcy again.
  • Servicing would be provided by multiple independent administrators, each with separate responsibilities, to maintain robust checks and balances—and at a lower cost to investors than what the Trustee’s plan would charge.
  • Oversight would be provided by an independent Advisory Board consisting of insurance and life settlement experts—and headed by Eleanor Kitzman, former Commissioner of the Texas Department of Insurance and former Director of the South Carolina Department of Insurance.
  • Under the Transparency Alliance Plan, the value of the investments would be realized within 12 years after the plan goes into effect. And if an investor wants to keep his or her investments after the plan ends, the investor’s decision would be honored: Transparency Alliance would establish a new servicer for that investor so that the investor can maintain his or her investment until maturity. Under the Trustee’s plan, the investments would be retained for up to 30 years. And when the investments are sold, the Trustee would have no obligation to establish a servicer for investors who want to maintain their individual interests.

Our plan is based on realistic projections. People are complex, and outcomes must be modeled based on those complexities. At Transparency Alliance, we do not simply average actuarial predictions. We rely on our extensive knowledge and experience to consider a broad range of critical factors that impact life expectancies. The research behind our modeling uniquely incorporates not only the expertise of investment professionals and actuaries, but also of physicians and scientists to evaluate those critical factors. Our methodology is designed to generate realistic projections and to optimize those projections through thoughtful management of the remaining portfolio.

We are responsible and experienced, and will not abuse the trust of investors who have already been exploited once. We are committed to recovering and protecting your assets as quickly and efficiently as possible, while minimizing any risks we identify as we bring this process to the best resolution available.