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Article: Life Partners Holdings, Inc. Announces Major Purchase Agreement; Company Agrees to Originate and Process up to $1 Billion per quarter of Senior Settlements.
- Article from:
- Business Wire
- Article date:
- May 3, 2000
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Business Editors
WACO, Texas--(BUSINESS WIRE)--May 3, 2000
Life Partners Holdings, Inc. (OTCBB:LPHI) announced today that it has entered into an agreement with a single institution to originate, underwrite and process up to $1 Billion per calendar quarter of Senior Life Settlements over the next five years.
Extended Life Services, Inc. (ELSI), a wholly owned subsidiary of LPHI, will handle the line of business. LPHI officials said that the agreement provides for the purchase of up to $20 Billion of Senior Life Settlements over the term of the contract.
Senior Life Settlements are a new and innovative financial tool for senior citizens, ...