UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): August 24,
2018
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Life Partners Position Holder Trust
Life Partners IRA Holder Partnership, LLC
(Exact name of registrants as specified in its
charter)
_______________________________
Texas
Texas
(State or Other Jurisdiction of Incorporation)
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000-55783
000-55784
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81-6950788
81-4644966
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(Commission
File
Number)
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(I.R.S.
Employer
Identification
Nos.)
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2001
Ross Avenue, Suite 3600
Dallas,
Texas
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75201
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(214) 698-7893
(Registrants’ Telephone Number, Including Area
Code)
Not Applicable
(Former Name or Former Address, If Changed Since Last
Report)
Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
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☐
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Written
communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
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☐
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
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Indicate
by check mark whether the registrants are emerging growth companies
as defined in Rule 405 of the Securities Act of 1933 (17 CFR
§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934
(17 CFR §240.12b-2).
Emerging
growth companies ☐
If
emerging growth companies, indicate by check mark if the
registrants have elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange
Act. ☐
Section 5 – Corporate Governance and Management
Item
5.02
Departure
of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
On
August 24, 2018, Marc Redus resigned as a member of the Governing
Trust Board (the "Board") of Life Partners Position Holder Trust
("Position Holder Trust"), the Life Partners Creditors' Trust
Governing Trust Board and the Advisory Committee ("Advisory
Committee") to the Life Partners IRA Holder Partnership, LLC ("IRA
Partnership" or "Partnership"). Mr. Redus served in each of those
capacities since his appointment by the United States Bankruptcy
Court for the Northern District of Texas, Fort Worth Division
effective as of December 9, 2016. Mr. Redus' decision to resign
from the Board and Advisory Committee did not involve any
disagreement with the Position Holder Trust, the IRA Partnership,
the trustee of Position Holder Trust, the manager of the IRA
Partnership, the Board or the Advisory Committee.
Effective August
24, 2018, upon the unanimous vote of the remaining members of the
Board, the Board appointed Brent Berry as a member of the Board,
the Life Partners Creditors' Trust Governing Trust Board and the
Advisory Committee. Mr. Berry will serve in each of those
capacities until his death, incapacity, resignation or removal. The
appointment of Mr. Berry was not pursuant to any arrangement or
understanding between him and any other person.
Mr.
Berry, age 56, is a real estate investor who purchases and leases
residential properties. From 2015 to 2017, Mr. Berry performed
financial consulting and operations work, including consulting work
for TaxNetUSA.com. Mr. Berry operated Life Settlement Evaluators, a
company that assisted investors in the revaluation of their IRA
accounts, during the Life Partners bankruptcy until the business
closed in February 2018. From 2007 to 2015, Mr. Berry exclusively
managed his personal investment portfolio. From 1993 to 2007, Mr.
Berry served as Vice President of Sales and Marketing for Tyler
Technologies Court and Justice Division, a company formerly known
as The Software Group. Mr. Berry assisted in growing Tyler from
$2.4 million in new sales to $10 million in new sales in three
years. Prior to Mr. Berry graduating from the University of
Wisconsin with a Bachelor of Science degree in Business Management
with concentration in Finance, Mr. Berry worked in various
management positions within the restaurant industry including as
General Manager, Multi-Unit Supervisor and District
Manager.
Mr.
Berry will be compensated in accordance with the Position Holder
Trust's previously disclosed compensation program for members of
the Board as described in Item 11 of the Annual Report on Form 10-K
for the year ended December 31, 2017.
There
are no related party transactions between the Position Holder Trust
or the IRA Partnership and Mr. Berry.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the
registrants have duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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LIFE PARTNERS POSITION HOLDER TRUST
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Date:
September 7, 2018
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By:
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/s/
Eduardo S. Espinosa
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Eduardo
S. Espinosa
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Trustee
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LIFE PARTNERS IRA HOLDER PARTNERSHIP, LLC
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Date:
September 7, 2018
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By:
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/s/
Eduardo S. Espinosa
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Eduardo
S. Espinosa
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Manager
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