No. 17-11477.

926 F.3d 103 (2019)

In the MATTER OF: LIFE PARTNERS HOLDINGS, INCORPORATED, Debtor. Life Partners Creditors' Trust; Alan M. Jacobs, As Trustee for Life Partners Creditors' Trust, Appellants, v. Fred A. Cowley; Gallagher Financial Group; Edward G. Burford Corporation; Faye Bagby; Ella Oliver, doing business as; Wealthstone Financial; Falco Group, L.L.C.; Mark McKay; Kainos Asset Management, L.L.C.; Life Settlement Exchange, L.L.C., Appellees.

United States Court of Appeals, Fifth Circuit.

FILED May 31, 2019.

Attorney(s) appearing for the Case

Nolan Cornelius Knight , Dennis L. Roossien, Jr., Esq. , Munsch Hardt Kopf & Harr, P.C., Dallas, TX, for Appellants.

Thomas S. Brandon, Jr. , Rebecca Kristine Eaton, Esq. , Thomas Franklin Harkins, Jr., Esq. , Whitaker Chalk Swindle & Schwartz, P.L.L.C., Fort Worth, TX, for Appellees FRED A. COWLEY, EDWARD G. BURFORD CORPORATION, FAYE BAGBY, WEALTHSTONE FINANCIAL, FALCO GROUP, L.L.C., MARK McKAY, KAINOS ASSET MANAGEMENT, L.L.C., LIFE SETTLEMENT EXCHANGE, L.L.C.

Thomas Giles Farrier, Esq. , Murphy, Mahon, Keffler & Farrier, L.L.P., Fort Worth, TX, James Dan Moorhead , Arlington, TX, for Appellee GALLAGHER FINANCIAL. GROUP.

Before ELROD, HIGGINSON, and ENGELHARDT, Circuit Judges.

This case arises out of the Chapter 11 bankruptcies of three related entities: Life Partners Holdings, Inc.; Life Partners, Inc. (LPI); and LPI Financial Services (collectively, the "LP Entities"). The LP Entities operated an investment business focused on the sale...

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