Emergent Capital (EMGC) 10-Q 8 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	5-May-14
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'
Trading Symbol	'IFT	'
Entity Registrant Name	'Imperial Holdings, Inc.	'
Entity Central Index Key	'0001494448	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	21,362,794

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets	'	'
Cash and cash equivalents	$79,061	$14,722	[1]
Restricted cash	'	13,506	[1]
Prepaid expenses and other assets	2,492	1,331	[1]
Deposits-other	1,347	1,597	[1]
Structured settlement receivables, at estimated fair value	388	660	[1]
Structured settlement receivables at cost, net	545	797	[1]
Investment in life settlements, at estimated fair value	46,887	48,442	[1]
Fixed assets, net	53	74	[1]
Investment in affiliates	2,384	2,378	[1]
Deferred debt costs, net	3,251	'
Total assets	421,495	348,103	[1]
Liabilities	'	'
Accounts payable and accrued expenses	5,415	2,977	[1]
Other liabilities	6,912	21,221	[1]
Interest payable-senior unsecured convertible notes	668	'
Revolving Credit facility debt, at estimated fair value	133,952	123,847
Senior unsecured convertible notes, net of discount (Note 10)	54,092	'
Conversion derivative liability, at estimated fair value (Note 10)	18,963	'
Income taxes payable	'	6,295	[1]
Deferred tax liability	3,976	'
Total liabilities	224,245	154,681	[1]
Commitments and Contingencies (Note 13)	'	'	[1]
Stockholders' Equity	'	'
Common stock (par value $0.01 per share, 80,000,000 authorized; 21,362,794 and 21,237,166 issued and outstanding as of March 31, 2014 and December 31, 2013, respectively)	213	212	[1]
Additional paid-in-capital	246,670	239,506	[1]
Accumulated deficit	-49,633	-46,296	[1]
Total stockholders' equity	197,250	193,422	[1]
Total liabilities and stockholders' equity	421,495	348,103	[1]
Primary Beneficiary Variable Interest Entity	'	'
Assets	'	'
Cash and cash equivalents	2,869	7,977	[1]
Investment in life settlements, at estimated fair value	268,577	254,519	[1]
Receivable for maturity of life settlements	13,641	2,100	[1]
Liabilities	'	'
Accounts payable and accrued expenses	267	341	[1]
Revolving Credit facility debt, at estimated fair value	$133,952	$123,847	[1]
[1]	Derived from audited consolidated financial statements.

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Common stock, par value	$0.01	$0.01	[1]
Common stock, shares authorized	80,000,000	80,000,000	[1]
Common stock, shares issued	21,362,794	21,237,166	[1]
Common stock, shares outstanding	21,362,794	21,237,166	[1]
[1]	Derived from audited consolidated financial statements.

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Income	'		'
Interest income	$29		$87
Interest and dividends on investment securities available for sale	'		14
Loss on life settlements, net	-360		'
Change in fair value of life settlements (Notes 8 & 11)	13,956		1,840
Servicing fee income	'		234
Other income	4		1,153
Total income	13,602		3,261
Expenses	'		'
Interest expense	2,801		103
Change in fair value of Revolving Credit Facility debt	1,129		'
Change in fair value of conversion derivative liability	2,062		'
Amortization of deferred costs	'		7
Personnel costs	2,168		1,863
Legal fees	2,844		4,843
Professional fees	1,171		802
Insurance	423		519
Other selling, general and administrative expenses	346		420
Total expenses	12,944		8,557
Income (loss) from continuing operations before income taxes	658		-5,296
Provision for income taxes	3,976		40
Net income (loss) from continuing operations	-3,318	[1]	-5,336	[2]
Discontinued Operations:	'		'
Income (loss) from discontinued operations, net of income taxes	-19	[1]	1,005	[2]
Net income (loss)	-3,337	[1]	-4,331	[2]
Basic and diluted earnings per common share	'		'
Continuing operations	($0.16)	[1]	($0.25)	[2]
Discontinued operations	'		$0.05	[2]
Net income (loss)	($0.16)		($0.20)
Weighted average shares outstanding:	'		'
Basic and diluted	21,344,112	[1]	21,206,121	[2]
Continuing Operations	'		'
Income	'		'
Interest income	$2		$20
[1]	The computation of diluted EPS does not include 816,116 options, 4,240,521 warrants, up to 10,464,941 shares of underlying common stock issuable upon conversion of the Notes and 17,286 shares of restricted stock for the three months ended March 31, 2014, as the effect of their inclusion would have been anti-dilutive.
[2]	The computation of diluted EPS did not include 485,695 options and 4,240,521 warrants for the three months ended March 31, 2013, as the effect of their inclusion would have been anti-dilutive.

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Loss) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Net income (loss)	($3,337)	[1]	($4,331)	[2]
Other comprehensive income (loss), net of tax:	'		'
Reclassification adjustment for gains included in net profit (loss)	'		3
Comprehensive income (loss)	($3,337)		($4,328)
[1]	The computation of diluted EPS does not include 816,116 options, 4,240,521 warrants, up to 10,464,941 shares of underlying common stock issuable upon conversion of the Notes and 17,286 shares of restricted stock for the three months ended March 31, 2014, as the effect of their inclusion would have been anti-dilutive.
[2]	The computation of diluted EPS did not include 485,695 options and 4,240,521 warrants for the three months ended March 31, 2013, as the effect of their inclusion would have been anti-dilutive.

Consolidated_Statements_of_Sto

Consolidated Statements of Stockholders' Equity (USD $)	Total		Common Stock	Additional Paid-in Capital	(Accumulated Deficit)
In Thousands, except Share data
Beginning Balance at Dec. 31, 2013	$193,422	[1]	$212	$239,506	($46,296)
Beginning Balance (in shares) at Dec. 31, 2013	'		21,237,166	'	'
Comprehensive income (loss)	-3,337		'	'	-3,337
Stock-based compensation	370		'	370	'
Issuance of common stock (in shares)	'		125,628	'	'
Issuance of common stock	500		1	499	'
Pre-conversion tax adjustment	6,295		'	6,295	'
Ending Balance at Mar. 31, 2014	$197,250		$213	$246,670	($49,633)
Ending Balance (in shares) at Mar. 31, 2014	'		21,362,794	'	'
[1]	Derived from audited consolidated financial statements.

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Cash flows from operating activities	'		'
Net income (loss)	($3,337)	[1]	($4,331)	[2]
Adjustments to reconcile net income (loss) to net cash used in operating activities:	'		'
Depreciation and amortization	26		53
Revolving Credit Facility financing cost	1,330		'
Amortization of discount and deferred costs for senior unsecured convertible notes	299		'
Amortization of premiums and accretion of discounts on available for sale securities	'		21
Stock-based compensation expense	370		191
Change in fair value of life settlements	-13,956		-1,840
Unrealized change in fair value of structured settlements	-8		-545
Change in fair value of Revolving Credit Facility debt	1,129		'
Loss on life settlements, net	360		'
Interest income	-29		-87
Amortization of deferred costs	'		7
Amortization of Bridge Facility discount	'		40
Gain on sale and prepayment of investment securities available for sale	'		-22
Change in value of warrants to be issued	'		2,334
Change in value of conversion derivative liability	2,062		'
Change in assets and liabilities:	'		'
Restricted cash	13,506		'
Deposits-other	250		-696
Investment in affiliates	-7		-62
Structured settlement receivables	559		223
Deferred costs, net	'		-430
Prepaid expenses and other assets	-1,203		-1,701
Accounts payable and accrued expenses	2,192		999
Other liabilities	-13,808		1,599
Interest receivable	'		95
Interest payable	668		60
Deferred income tax	3,976		40
Net cash used in operating activities	-5,621		-4,052
Cash flows from investing activities	'		'
Purchase of fixed assets, net of disposals	-2		-1
Proceeds from sale and prepayments of investment securities available for sale	'		12,111
Premiums paid on investments in life settlements	-13,264		-6,963
Proceeds from sale of investments in life settlements, net	2,858		'
Net cash (used in) provided by investing activities	-10,408		5,147
Cash flows from financing activities	'		'
Borrowings from Revolving Credit Facility	13,374		'
Repayment of borrowings under Revolving Credit Facility	-6,006		'
Restricted cash	'		1,162
Repayment of borrowings under bridge facility	'		41,400
Proceeds from senior unsecured convertible notes, net	67,892		'
Net cash provided by financing activities	75,260		42,562
Net increase in cash and cash equivalents	59,231		43,657
Cash and cash equivalents, at beginning of the period	22,699		7,001
Cash and cash equivalents, at end of the period	81,930		50,658
Supplemental disclosures of cash flow information:	'		'
Cash paid for interest during the period	499		'
Supplemental disclosures of non-cash investing activities:	'		'
Investment in life settlements acquired in foreclosure	'		1,524
Supplemental disclosures of non-cash financing activities:	'		'
Interest payment and fees withheld from borrowings by lender	$1,608		'
[1]	The computation of diluted EPS does not include 816,116 options, 4,240,521 warrants, up to 10,464,941 shares of underlying common stock issuable upon conversion of the Notes and 17,286 shares of restricted stock for the three months ended March 31, 2014, as the effect of their inclusion would have been anti-dilutive.
[2]	The computation of diluted EPS did not include 485,695 options and 4,240,521 warrants for the three months ended March 31, 2013, as the effect of their inclusion would have been anti-dilutive.

Description_of_Business

Description of Business	3 Months Ended
	Mar. 31, 2014
Description of Business	'
	(1) Description of Business
	Founded in December 2006 as a Florida limited liability company, Imperial Holdings, LLC, converted into Imperial Holdings, Inc. (with its subsidiaries, the “Company” or “Imperial”) on February 3, 2011, in connection with the Company’s initial public offering.
	Incorporated in Florida, Imperial owns and manages a portfolio of 601 life insurance policies, also referred to as life settlements, with a fair value of $315.5 million and an aggregate death benefit of approximately $2.9 billion at March 31, 2014. The Company primarily earns income on these policies from changes in their fair value and through death benefits. 452 of these policies, with an aggregate death benefit of approximately $2.3 billion, have been pledged under a 15-year revolving credit agreement (the “Revolving Credit Facility”) entered into by the Company’s subsidiary, White Eagle Asset Portfolio, LLC (“White Eagle”).

Principles_of_Consolidation_an

Principles of Consolidation and Basis of Presentation	3 Months Ended
	Mar. 31, 2014
Principles of Consolidation and Basis of Presentation	'
	(2) Principles of Consolidation and Basis of Presentation
	The accompanying consolidated financial statements include the accounts of the Company, all of its wholly-owned subsidiary companies and its special purpose entities, with the exception of Imperial Settlements Financing 2010, LLC (“ISF 2010”), an unconsolidated special purpose entity. The special purpose entity has been created to fulfill specific objectives. All significant intercompany balances and transactions have been eliminated in consolidation, including income from servicing policies pledged as collateral under the Revolving Credit Facility. Notwithstanding consolidation, White Eagle is the owner of 452 policies, with an aggregate death benefit of approximately $2.3 billion and an estimated fair value of approximately $268.6 million at March 31, 2014.
	The unaudited consolidated financial statements have been prepared in conformity with the rules and regulations of the SEC for Form 10-Q and therefore do not include certain information, accounting policies, and footnote disclosures information or footnotes necessary for a complete presentation of financial position, results of operations and cash flows in conformity with generally accepted accounting principles. However, all adjustments (consisting of normal recurring accruals), which, in the opinion of management, are necessary for a fair presentation of the financial statements, have been included. Operating results for the three months ended March 31, 2014 are not necessarily indicative of the results that may be expected for future periods or for the year ended December 31, 2014. These interim financial statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in Imperial’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013.
	Derivative Instruments
	The Company issued and sold $70.7 million in aggregate principal amount of 8.50% senior unsecured convertible notes due 2019 (the “Notes”) that contain an embedded derivative feature. In accordance with Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging, derivative instruments are recognized as either assets or liabilities on the Company’s balance sheet and are measured at fair value with gains or losses recognized in earnings. Embedded derivatives that are not clearly and closely related to the host contract, such as the Notes, are bifurcated and recognized at fair value with changes in fair value recognized as either a gain or loss in earnings if they can be reliably measured. The Company determines the fair value of its derivative instruments based upon available market data and unobservable inputs using a Black Scholes pricing model.
	Use of Estimates
	The preparation of these consolidated financial statements, in conformity with generally accepted accounting principles in the United States of America (“GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from these estimates and such differences could be material. Significant estimates made by management include income taxes, the valuation of investments in life settlements, the valuation of the debt owing under the Revolving Credit Facility and the valuation of the conversion derivative liability embedded within the Company’s Notes.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2014
Recent Accounting Pronouncements	'
	(3) Recent Accounting Pronouncements
	In July 2013, the FASB issued ASU No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”). ASU 2013-11 requires, unless certain conditions exist, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, similar tax loss, or a tax credit carryforward. ASU 2013-11 is effective prospectively for reporting periods beginning after December 15, 2013, with early adoption permitted. Retrospective application is permitted. Adoption of this guidance resulted in the recognition of a $3.7 million tax expense in the Company’s consolidated financial statement of operations for the quarter ended March 31, 2014, a $2.6 million reduction in the valuation allowance and an increase to additional paid-in-capital of $6.3 million on the Company’s consolidated balance sheet and consolidated statement of stockholders’ equity as of March 31, 2014.
	In April 2014, the FASB issued ASU 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” The amendments in the ASU change the criteria for reporting discontinued operations while enhancing disclosures in this area. The new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The new guidance also requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. The amendments in the ASU are effective in the first quarter of 2015 for public organizations with calendar year ends. Early adoption is permitted. The Company is currently in the process of evaluating the impact of the adoption on its consolidated financial statements.

Consolidation_of_Variable_Inte

Consolidation of Variable Interest Entities	3 Months Ended
	Mar. 31, 2014
Consolidation of Variable Interest Entities	'
	(4) Consolidation of Variable Interest Entities
	The Company evaluates its interests in variable interest entities (“VIEs”) on an ongoing basis and consolidates those VIEs in which it has a controlling financial interest and is thus deemed to be the primary beneficiary. A controlling financial interest has both of the following characteristics: (i) the power to direct the activities of the VIE that most significantly impact its economic performance; and (ii) the obligation to absorb losses of the VIE that could potentially be significant to it or the right to receive benefits from the VIE that could be significant to the VIE.
	The following table presents the consolidated assets and consolidated liabilities of VIEs for which the Company has concluded that it is the primary beneficiary and which are consolidated in the Company’s consolidated financial statements as of March 31, 2014 as well as non-consolidated VIEs for which the Company has determined it is not the primary beneficiary (in thousands):
		Primary Beneficiary				Not Primary Beneficiary
		Consolidated VIEs				Non-consolidated VIEs
		Assets		Liabilities		Total		Maximum Exposure
						Assets		To Loss
	31-Mar-14	$	285,087	$	134,219	$	2,384	$	2,384
	31-Dec-13	$	264,596	$	124,188	$	2,378	$	2,378
	Effective April 29, 2013, White Eagle, a subsidiary of the Company, entered into the Revolving Credit Facility with a portion of the proceeds from the initial borrowings used to repay all outstanding amounts under an eighteen-month bridge facility. Ongoing draws under the Revolving Credit Facility may be used, among other things, to pay premiums on the life insurance policies that have been pledged as collateral under the Revolving Credit Facility. As of March 31, 2014, 452 life insurance policies owned by White Eagle with an aggregate death benefit of approximately $2.3 billion and an estimated fair value of approximately $268.6 million were pledged as collateral under the Revolving Credit Facility. A Company subsidiary acts as portfolio manager and servicer for life insurance policies owned by White Eagle and the Company was determined to be the primary beneficiary of White Eagle as it has a controlling financial interest and the power to direct the activities that most significantly impacted White Eagle’s economic performance and the obligation to absorb economic gains and losses. In accordance with Accounting Standards Codification (“ASC”) 810, Consolidation, the Company consolidated White Eagle in its financial statements for the three months ended March 31, 2014 and the year ended December 31, 2013.

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2014
Earnings Per Share	'
	(5) Earnings Per Share
	Basic net income per share is computed by dividing the net earnings attributable to common shareholders by the weighted average number of common shares outstanding during the period.
	Diluted earnings per share is computed by dividing net income attributable to common shareholders by the weighted average number of common shares outstanding, increased to include the number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued. Conversion or exercise of the potential common shares is not reflected in diluted earnings per share unless the effect is dilutive. The dilutive effect, if any, of outstanding common share equivalents is reflected in diluted earnings per share by application of the treasury stock method, as applicable. In determining whether outstanding stock options, restricted stock, and common stock warrants should be considered for their dilutive effect, the average market price of the common stock for the period has to exceed the exercise price of the outstanding common share equivalent.
	The following tables reconcile actual basic and diluted earnings per share for the three months ended March 31, 2014 and 2013 (in thousands except share and per share data).
			For the Three Months Ended
			March 31,
			2014(1)			2013(2)
	Earnings per share:
	Numerator:
	Net income (loss) from continuing operations		$	(3,318	)	$	(5,336	)
	Net income (loss) income from discontinued operations		$	(19	)	$	1,005
	Net income (loss)		$	(3,337	)	$	(4,331	)
	Basic earnings per common share:
	Basic income (loss) from continuing operations		$	(0.16	)	$	(0.25	)
	Basic income (loss) from discontinued operations		$	—		$	0.05
	Basic income (loss) per share available to common shareholders		$	(0.16	)	$	(0.20	)
	Diluted earnings per per common share:
	Diluted income (loss) from continuing operations.		$	(0.16	)	$	(0.25	)
	Diluted income (loss) from discontinued operations		$	—		$	0.05
	Diluted income (loss) per share available to common shareholders		$	(0.16	)	$	(0.20	)
	Denominator:
	Basic and diluted			21,344,112			21,206,121
	-1	The computation of diluted EPS does not include 816,116 options, 4,240,521 warrants, up to 10,464,941 shares of underlying common stock issuable upon conversion of the Notes and 17,286 shares of restricted stock for the three months ended March 31, 2014, as the effect of their inclusion would have been anti-dilutive.
	-2	The computation of diluted EPS did not include 485,695 options and 4,240,521 warrants for the three months ended March 31, 2013, as the effect of their inclusion would have been anti-dilutive.

Stockbased_Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2014
Stock-based Compensation	'
	(6) Stock-based Compensation
	In connection with the Company’s initial public offering, the Company established the Imperial Holdings 2011 Omnibus Incentive Plan (the “Omnibus Plan”). The purpose of the Omnibus Plan is to attract, retain and motivate participating employees and to attract and retain well-qualified individuals to serve as members of the board of directors, consultants and advisors through the use of incentives based upon the value of our common stock. Awards under the Omnibus Plan may consist of incentive awards, stock options, stock appreciation rights, performance shares, performance units, and shares of common stock, restricted stock, restricted stock units or other stock-based awards as determined by the compensation committee. The Omnibus Plan provides that an aggregate of 1,200,000 shares of common stock are reserved for issuance under the Omnibus Plan, subject to adjustment as provided in the Omnibus Plan. On April 1, 2013, the Company granted 13,759 shares of unrestricted common stock to its outside directors with an aggregate grant date fair value of approximately $57,000 computed in accordance with ASC 718, Compensation-Stock Compensation. During the year ended December 31, 2013, the Company issued 545,000 options to employees at a strike price of $6.94. The Company recognized approximately $340,000 and $191,000 in stock-based compensation expense relating to stock options it granted under the Omnibus Plan during the three months ended March 31, 2014 and 2013, respectively. The Company incurred additional stock-based compensation expense of approximately $30,000 and $0 in stock-based compensation relating to restricted stock granted to its board of directors during the three months ended March 31, 2014 and 2013, respectively. Prior to our initial public offering, the Company had no equity compensation plan.
	Options
	As of March 31, 2014, options to purchase 816,116 shares of common stock were outstanding and unexercised under the Omnibus Plan at a weighted average exercise price of $8.49 per share. The outstanding options issued in 2011 expire seven years after the date of grant and were granted with a strike price of $10.75, which was the offering price of our initial public offering or fair market value (closing price) of the stock on the date of grant and vest over three years.
	The following table presents the activity of the Company’s outstanding stock options of common stock for the three months ended March 31, 2014:
	Common Stock Options	Number of			Weighted		Weighted		Aggregate
		Shares			Average Price		Average		Intrinsic
					per Share		Remaining		Value
							Contractual
							Term
	Options outstanding, January 1, 2014		831,282		$	8.46		5.51		—
	Options granted		—			—		—		—
	Options exercised		—			—		—		—
	Options forfeited		(15,166	)	$	6.94		6.18		—
	Options expired		—			—		—		—
	Options outstanding, March 31, 2014		816,116		$	8.49		5.24		—
	Exercisable at March 31, 2014		493,428		$	9.5		4.63		—
	Unvested at March 31, 2014		322,688		$	6.94		6.18		—
	As of March 31, 2014, all outstanding stock options had an exercise price above the fair market value of the common stock.
	During the three months ended March 31, 2014, the Company recognized $340,000 of expense. The remaining unamortized amounts in respect of the June 6, 2013 option grants of approximately $420,000 and $240,000 will be expensed during the remainder of 2014 and 2015, respectively.
	Restricted Stock
	As of March 31, 2014, 17,286 shares of restricted stock granted to our directors under the Omnibus Plan remained subject to a one year vesting schedule that commenced on the date of grant. The fair value of the unvested restricted stock was valued at $120,138 based on the closing price of the Company’s shares on the grant date. The Company expensed approximately $30,000 in stock based compensation related to the 17,286 shares of restricted stock during the three months ended March 31, 2014.
	The following table presents the activity of the Company’s restricted stock for the three months ended March 31, 2014:
	Common Unvested Shares	Number of
		Shares
	Outstanding January 1, 2014		17,286
	Granted		—
	Vested		—
	Forfeited		—
	Outstanding March 31, 2014		17,286
	The aggregate intrinsic value of these awards is $99,000 and the stock will vest in June 2014.
	Warrants
	On February 11, 2011, three shareholders received ownership of warrants that may be exercised for up to a total of 4,240,521 shares of the Company’s common stock at a weighted average exercise price of $14.51 per share. One-third of the warrants have an exercise price of $12.90. The warrants will expire seven years after the date of issuance and the exercisability of the warrant will vest ratably over four years.
	In connection with the class action settlement described in Note 13, Contingencies and Commitments, the Company issued warrants to purchase two million shares of the Company’s stock into an escrow account in April of 2014. The estimated fair value at March 31, 2014 of such warrants was $5.4 million, which is included in other liabilities. The warrants will have a five-year term from the date they are distributed to the class participants with an exercise price of $10.75.

Discontinued_Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2014
Discontinued Operations	'
	(7) Discontinued Operations
	On October 25, 2013, the Company sold substantially all of the operating assets comprising its structured settlement business for gross proceeds of $12.0 million. The Company’s decision to sell the division was to focus on the life settlements business. No structured settlement receivables were sold and no on-balance sheet liabilities were transferred in connection with the sale. This sale resulted in the recognition of a gain of $11.3 million in the fourth quarter of 2013.
	As a result of the sale, the Company retrospectively reclassified its structured settlement business operating results as discontinued operations, net of income taxes, in the accompanying Consolidated Statements of Operations for all periods presented and the Company has discontinued segment reporting. All other footnotes in these financial statements that were affected by this reclassification of discontinued operations have been updated accordingly.
	Operating results related to the Company’s discontinued structured settlement business are as follows:
		Three Months Ended
		March 31,
		2014			2013
	Total income (loss)	$	75		$	4,192
	Total expenses		(94	)		(3,187	)
	Income (loss) before income taxes		(19	)		1,005
	Income tax expense		—			—
	Net income (loss) from discontinued operations	$	(19	)	$	1,005

Investment_in_Life_Settlements

Investment in Life Settlements (Life Insurance Policies)	3 Months Ended
	Mar. 31, 2014
Investment in Life Settlements (Life Insurance Policies)	'
	(8) Investment in Life Settlements (Life Insurance Policies)
	The Company accounts for policies it acquires using the fair value method in accordance with ASC 325-30-50 Investments—Other—Investment in Insurance Contracts. Under the fair value method, the Company recognizes the initial investment at the purchase price. For policies that were relinquished in satisfaction of premium finance loans at maturity, the initial investment is the loan carrying value. For policies purchased in the secondary or tertiary markets, the initial investment is the amount of cash outlay at the time of purchase. At each reporting period, the Company re-measures the investment at fair value in its entirety and recognizes changes in fair value in earnings in the period in which the changes occur.
	As of March 31, 2014 and December 31, 2013, the Company owned 601 and 612 policies, respectively, with an aggregate estimated fair value of investments in life settlements of $315.5 million and $303.0 million, respectively.
	The weighted average life expectancy calculated based on death benefit of insureds in the policies owned by the Company at March 31, 2014 was 11.4 years. The following table describes the Company’s investments in life settlements as of March 31, 2014 (dollars in thousands):
	Remaining Life Expectancy (In Years)	Number of		Fair Value		Face Value
		Life
		Settlement
		Contracts
	0 - 1		—	$	—	$	—
	2-Jan		—		—		—
	3-Feb		5		7,496		14,875
	4-Mar		8		13,818		34,400
	5-Apr		11		16,812		51,450
	Thereafter		577		277,338		2,819,674
	Total		601	$	315,464	$	2,920,399
	The weighted average life expectancy calculated based on death benefit of insureds in the policies owned by the Company at December 31, 2013 was 11.6 years. The following table describes the Company’s investments in life settlements as of December 31, 2013 (dollars in thousands):
	Remaining Life Expectancy (In Years)	Number of		Fair Value		Face Value
		Life Settlement
		Contracts
	0-1		—	$	—	$	—
	2-Jan		—		—		—
	3-Feb		6		8,489		16,875
	4-Mar		10		14,171		38,100
	5-Apr		8		13,529		40,250
	Thereafter		588		266,772		2,859,665
	Total		612	$	302,961	$	2,954,890
	Estimated premiums to be paid for each of the five succeeding fiscal years to keep the life insurance policies in force as of March 31, 2014, are as follows (in thousands):
	Remainder of 2014	$	40,069
	2015		52,957
	2016		56,215
	2017		62,849
	2018		67,281
	Thereafter		1,136,388
		$	1,415,759
	The amount of $1.42 billion noted above represents the estimated total future premium payments required to keep the life insurance policies in force during the life expectancies of all the underlying insured lives and does not give effect to projected receipt of death benefits. The estimated total future premium payments could increase or decrease significantly to the extent that actual mortalities of insureds differs from the estimated life expectancies.

Debt_Disclosure

Debt Disclosure	3 Months Ended
	Mar. 31, 2014
8.50% Senior Unsecured Convertible Notes Due 2019	'
Debt Disclosure	'
	(10) 8.50% Senior Unsecured Convertible Notes
	In February 2014, the Company issued $70.7 million in an aggregate principal amount of 8.50% senior unsecured convertible notes due 2019. The Notes were sold to certain accredited investors pursuant to Regulation D under the Securities Act of 1933 and to an initial purchaser who then sold the notes to qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933. The Notes were issued pursuant to an indenture dated February 21, 2014, between the Company and U.S. Bank National Association, as trustee (“the Indenture”). Affiliates of certain of the Company’s 5% shareholders participated in the offering of the Notes, including: Bulldog Investors, LLC, Indaba Capital Management, LLC and Nantahala Capital Management LLC. At the closing of the offering, affiliates of these shareholders purchased Notes in aggregate principal amounts of $9,243,000, $30,000,000 and $14,500,000, respectively. Two members of our Board of Directors, Messrs. Dakos and Goldstein, are affiliated with Bulldog Investors, LLC.
	The Notes are general senior unsecured obligations and rank equally in right of payment with all of our other existing and future senior unsecured indebtedness. The Notes are effectively subordinate to all of our secured indebtedness to the extent of the value of the assets collateralizing such indebtedness. The Notes are not guaranteed by our subsidiaries.
	The maturity date of the Notes is February 15, 2019. The Notes accrue interest at the rate of 8.50% per annum on the principal amount of the Notes, payable semi-annually in arrears on August 15 and February 15 of each year with the first interest payment on August 15, 2014.
	Except as described below, the Notes are convertible into shares of common stock at any time prior to the close of business on the second scheduled trading day immediately preceding the maturity date, except that, prior to the earlier of the date on which the Company obtains the approval of its shareholders to issue shares of common stock upon conversion of the Notes in an amount that exceeds 19.99% of its outstanding common stock on the date the Notes are initially issued in accordance with the listing standards of the New York Stock Exchange, the date on which such shareholder approval is no longer required, or, August 15, 2018, holders may only convert their Notes upon the satisfaction of certain conditions.
	The Notes may be converted into shares of common stock initially at a conversion rate of 147.9290 shares of common stock per $1,000 principal amount of Notes (equivalent to a conversion price of $6.76 per share of common stock), subject to adjustment; provided, however, unless and until the Company obtains the shareholder approval referenced above or such shareholder approval is no longer required under the listing standards of the NYSE, the number of shares of common stock received upon conversion will be subject to a “conversion share cap” (equivalent to the pro rata portion of such 19.99% limit represented by the Notes to be converted). Holders who are either affiliated with the Company’s directors or executive officers or are owners of 5% or more of the Company’s common stock will be subject to additional limitations on the number of shares of common stock that may be delivered to them with respect to a conversion of Notes they own prior to the above described shareholder approval. In addition, unless and until such shareholder approval is obtained or is no longer required under the listing standards of the NYSE, the Company will, unless the Company elects otherwise, elect “combination settlement” with a specified dollar amount per $1,000 principal amount of Notes of at least $1,000 for all Notes submitted for exchange, which means the Company will be obligated to settle the conversion obligation by paying up to the specified dollar amount with respect to such Notes in cash and delivering shares of common stock for any conversion value in excess of such specified dollar amount, subject to the conversion share cap. Any conversion value above the conversion share cap will be paid in cash.
	The Company may not redeem the Notes prior to February 15, 2017. On and after February 15, 2017, and prior to the maturity date, the Company may redeem for cash all, but not less than all, of the Notes if the last reported sale price of the Company’s common stock equals or exceeds 130% of the applicable conversion price for at least 20 trading days during the 30 consecutive trading day period ending on the trading day immediately prior to the date the Company delivers notice of the redemption. The redemption price will be equal to 100% of the principal amount of the Notes, plus any accrued and unpaid interest to, but excluding, the redemption date. In addition, if we call the Notes for redemption, a make-whole fundamental charge will be deemed to occur. As a result, we will, in certain circumstances, increase the conversion rate by a number of additional shares of common stock for holders who convert their notes prior to the redemption date.
	The Company has filed a definitive proxy statement with the SEC to, among other items, seek shareholder approval to issue shares of common stock upon conversion in excess of the conversion share cap and other limitations imposed by Section 312 of the NYSE Listed Company Manual that require shareholder approval (i) in order for the Notes to be convertible into a number of shares of common stock that exceeds 1% of the number of shares of common stock or voting power outstanding before the issuance where those shares are issuable to a director or officer of the Company or an affiliate of such person, and (ii) in order for the Notes to be convertible into a number of shares of Common Stock that exceeds 5% of the number of shares of Common Stock or voting power outstanding before the issuance where those shares are issuable to a “substantial security holder.”
	The Company determined that the embedded conversion option in the Notes is required to be separately accounted for as a derivative under ASC 815 which requires the Company to bifurcate the embedded conversion option and record it as a liability at fair value and record a debt discount by an equal amount. Changes in the fair value of the conversion derivative liability are recorded in earnings and the discount on the debt liability, together with the stated interest on the instrument, is amortized to interest expense over the life of the debt using the effective interest method.
	The fair value of the conversion derivative liability was estimated at March 31, 2014 using a Black Scholes pricing model using the following assumptions:
		Three Months Ended
		March 31, 2014
	Expected Volatility		40	%
	Expected Term in Years		4.9
	Risk Free Rate		1.7	%
	Upon the issuance of the Notes, the fair value of the conversion derivative liability was $16.9 million. As of March 31, 2014, the carrying value of the Notes was $54.1 million. The unamortized debt discount and origination cost of $16.7 million and $3.3 million, respectively, will be amortized over the remaining life of the Notes, using the effective interest method.
	The Company recorded $967,000 of interest expense including $250,000 and $49,000 from amortizing debt discounts and issuance costs during the three months ended March 31, 2014.
	During the three months ended March 31, 2014, the Company recorded a loss on the change in fair value of the conversion derivative liability of $2.1 million and as of March 31, 2014, the fair value of the conversion derivative liability was $19.0 million.
Revolving Credit Facility	'
Debt Disclosure	'
	(9) Revolving Credit Facility
	Effective April 29, 2013, White Eagle entered into a 15-year revolving credit agreement (the “Revolving Credit Facility”) with LNV Corporation, as initial lender, Imperial Finance & Trading, LLC, as servicer and portfolio manager and CLMG Corp., as administrative agent, providing for up to $300.0 million in borrowings. Ongoing draws under the Revolving Credit Facility may be used, among other things, to pay premiums on the life insurance policies that have been pledged as collateral under the Revolving Credit Facility. Proceeds from the policies pledged as collateral will be distributed pursuant to a waterfall. After premium payments and fees to service providers, 100% of the remaining proceeds will be directed to pay outstanding principal and interest on the loan. Generally, after payment of principal and interest, collections from policy proceeds are to be paid to White Eagle up to $76.1 million, then 50% of the remaining proceeds are to be directed to the lenders with the remainder paid to White Eagle. As of March 31, 2014, 452 life insurance policies owned by White Eagle with an aggregate death benefit of approximately $2.3 billion and an estimated fair value of approximately $268.6 million have been pledged as collateral under the Revolving Credit Facility.
	General & Security. The Revolving Credit Facility provides for an asset-based revolving credit facility backed by White Eagle’s portfolio of life insurance policies with an initial aggregate lender commitment of up to $300.0 million, subject to borrowing base availability. 452 life insurance policies with an aggregate death benefit of approximately $2.3 billion and an estimated fair value of approximately $268.6 million have been pledged as collateral under the Revolving Credit Facility at March 31, 2014. In addition, the Company’s equity interests in White Eagle have been pledged under the Revolving Credit Facility.
	Borrowing Base. Borrowing availability under the Revolving Credit Facility is subject to a borrowing base, which at any time is equal to the lesser of (A) the sum of all of the following amounts that have been funded or are to be funded through the next distribution date (i) the initial advance and all additional advances to acquire additional pledged policies or that are not for ongoing maintenance advances, plus (ii) 100% of the sum of the ongoing maintenance costs, plus (iii) 100% of accrued and unpaid interest on borrowings (excluding the rate floor portion described below), plus (iv) 100% of any other fees and expenses funded and to be funded as approved by the required lenders, less (v) any required payments of principal and interest previously distributed and to be distributed through the next distribution date; (B) 75% of the valuation of the policies pledged as collateral as determined by the lenders; (C) 50% of the aggregate face amount of the policies pledged as collateral (excluding certain specified life insurance policies); and (D) the then applicable facility limit. $157.8 million was undrawn with $3.1 million available to borrow under the Facility at March 31, 2014.
	Amortization & Distributions. Proceeds from the policies pledged as collateral under the Revolving Credit Facility will be distributed pursuant to a waterfall. Absent an event of default, after premium payments and fees to service providers, 100% of the remaining proceeds will be directed to pay outstanding interest and principal on the loan, unless the lenders determine otherwise. Generally, after payment of interest and principal, collections from policy proceeds are to be paid to White Eagle up to $76.1 million, then 50% of the remaining proceeds are to be directed to the lenders with the remainder paid to White Eagle and for any unpaid fees to service providers. With respect to approximately 25% of the face amount of policies pledged as collateral under the Revolving Credit Facility, White Eagle has agreed that if policy proceeds that are otherwise due are not paid by an insurance carrier, the foregoing distributions will be altered such that the lenders will receive any “catch-up” payments in respect of amounts that they would have received in the waterfall prior to distributions being made to White Eagle. During the continuance of events of default or unmatured events of default, the amounts from collections of policy proceeds that might otherwise be paid to White Eagle will instead be held in a designated account controlled by the lenders and may be applied to fund operating and third party expenses, interest and principal, “catch-up” payments or percentage payments that would go to the lenders as described above.
	Use of Proceeds. Generally, ongoing advances may be made for paying premiums on the life insurance policies pledged as collateral, to pay debt service (other than a “rate floor” component equal to the greater of LIBOR (or the applicable base rate) and 1.5%), and to pay the fees of service providers. Subsequent advances in respect of newly pledged policies are at the discretion of the lenders and the use of proceeds from those advances are at the discretion of the lenders.
	Interest. Borrowings under the Revolving Credit Facility bear interest at a rate equal to LIBOR or, if LIBOR is unavailable, the base rate, in each case plus an applicable margin of 4.00% and subject to the rate floor described above. The base rate under the Revolving Credit Facility equals the sum of (i) the weighted average of the interest rates on overnight federal funds transactions or, if unavailable, the average of three federal funds quotations received by the Agent plus 0.75% and (ii) 0.5%. The effective rate at March 31, 2014 is 5.5%.
	The Company’s policy is to record interest expense for the cash portion of interest paid during the period. Accrued interest is reflected as a component of the estimated fair value of the Revolving Credit Facility debt. Total interest expense on the facility was $1.8 million and includes $1.3 million withheld from borrowings by the lender and $499,000 paid by the Company for the three months ended March 31, 2014.
	Maturity. The term of the Revolving Credit Facility expires April 28, 2028, which is also the scheduled commitment termination date (though the lenders’ commitments to fund borrowings may terminate earlier in an event of default). The lenders’ interests in and rights to a portion of the proceeds of the policies does not terminate with the repayment of the principal borrowed and interest accrued thereon, the termination of the Revolving Credit Facility or expiration of the lenders’ commitments.
	Covenants/Events of Defaults. The Revolving Credit Facility contains covenants and events of default that are customary for asset-based credit agreements of this type, but also include cross defaults under the servicing, account control, contribution and pledge agreements entered into in connection with the Revolving Credit Facility (including in relation to breached by third parties thereunder), changes in control of or insolvency or bankruptcy of the Company and relevant subsidiaries and performance of certain obligations by certain relevant subsidiaries, White Eagle and third parties. The Revolving Credit Facility does not contain any financial covenants, but does contain certain tests relating to asset maintenance, performance and valuation the satisfaction of which will be determined by the lenders with a high degree of discretion.
	Remedies. The Revolving Credit Facility and ancillary transaction documents afford the lenders a high degree of discretion in their selection of and implementation of remedies in relation to any event of default, including a high degree of discretion in determining whether to foreclose upon and liquidate all or any pledged policies, the Company’s interests in White Eagle, and the manner of any such liquidation. White Eagle has limited ability to cure events of default through the sale of policies or the procurement of replacement financing.
	We have elected to account for the debt under the Revolving Credit Facility, which includes the 50% interest in policy proceeds to the lender, using the fair value method. The fair value of the debt is the amount the Company would have to pay to transfer the debt to a market participant in an orderly transaction. We calculated the fair value of the debt using a discounted cash flow model taking into account the stated interest rate of the credit facility and probabilistic cash flows from the pledged policies. Considerable judgment is required in interpreting market data to develop the estimates of fair value. Accordingly, our estimates are not necessarily indicative of the amounts that we, or holders of the instruments, could realize in a current market exchange. The most significant assumptions are the estimates of life expectancy of the insured and the discount rate. The use of different assumptions and/or estimation methodologies could have a material effect on the estimated fair values.
	At March 31, 2014, the fair value of the debt is $134.0 million. As of March 31, 2014, the borrowing base was approximately $145.3 million including $142.2 million in outstanding principal.
	There are no scheduled repayments of principal. Payments are due upon receipt of death benefits and distributed pursuant to the waterfall as described above.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2014
Fair Value Measurements	'
	(11) Fair Value Measurements
	We carry investments in life settlements, certain structured settlements, our Revolving Credit Facility debt, and the conversion derivative liability embedded in the Notes at fair value in the consolidated balance sheets. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. Fair value measurements are classified based on the following fair value hierarchy:
	Level 1—Valuation is based on unadjusted quoted prices in active markets for identical assets and liabilities that are accessible at the reporting date. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment.
	Level 2 —Valuation is determined from pricing inputs that are other than quoted prices in active markets that are either directly or indirectly observable as of the reporting date. Observable inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and interest rates and yield curves that are observable at commonly quoted intervals.
	Level 3—Valuation is based on inputs that are both significant to the fair value measurement and unobservable. Level 3 inputs include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value generally require significant management judgment or estimation.
	Assets and liabilities measured at fair value on a recurring basis
	The balances of the Company’s assets measured at fair value on a recurring basis as of March 31, 2014, are as follows (in thousands):
			Level 1			Level 2			Level 3			Total
												Fair Value
	Assets:
	Investment in life settlements		$	—		$	—		$	315,464		$	315,464
	Structured settlement receivables			—			—			388			388
			$	—		$	—		$	315,852		$	315,852
	The balances of the Company’s liabilities measured at fair value on a recurring basis as of March 31, 2014 are as follows (in thousands):
			Level 1			Level 2			Level 3			Total
												Fair Value
	Liabilities:
	Revolving Credit Facility debt		$	—		$	—		$	133,952		$	133,952
	Conversion derivative liability embedded in the Notes			—			—			18,963			18,963
			$	—		$	—		$	152,915		$	152,915
	The balances of the Company’s assets measured at fair value on a recurring basis as of December 31, 2013, are as follows (in thousands):
			Level 1			Level 2			Level 3			Total
												Fair Value
	Assets:
	Investment in life settlements		$	—		$	—		$	302,961		$	302,961
	Structured settlement receivables			—			—			660			660
			$	—		$	—		$	303,621		$	303,621
	The balances of the Company’s liabilities measured at fair value on a recurring basis as of December 31, 2013, are as follows (in thousands):
			Level 1			Level 2			Level 3			Total
												Fair Value
	Liabilities:
	Revolving Credit Facility debt		$	—		$	—		$	123,847		$	123,847
			$	—		$	—		$	123,847		$	123,847
	The Company values its investment in life settlement portfolio in two classes, non-premium financed and premium financed. In considering the categories, it is generally believed that market participants would require a lower risk premium for policies that were non-premium financed, while a higher risk premium would be required for policies that were premium financed.
			Fair Value			Aggregate			Valuation Technique (s)		Unobservable Input	Range
			at 3/31/14			death benefit						(Weighted Average)
						at 3/31/14
	Non-premium financed		$	38,350		$	206,450		Discounted cash flow		Discount rate	14.80% - 20.80%
											Life expectancy evaluation	(8.8 years)
	Premium financed		$	277,114		$	2,713,949		Discounted cash flow		Discount rate	16.80% - 26.80%
											Life expectancy evaluation	(11.6) years
	Investment in life settlements		$	315,464		$	2,920,399		Discounted cash flow		Discount rate	-19.05%
											Life expectancy evaluation	(11.4 years)
	Structured settlements receivables		$	388			N/A		Discounted cash flow		Facility sales discount rates	8.66%
											Discount rate	23.90%*
	Revolving Credit Facility debt		$	133,952			N/A		Discounted cash flow		Life expectancy evaluation	(10.9 years)
											Discount rate	1.70%
	Conversion derivative liability		$	18,963			N/A		Black Scholes pricing model		Volatility	40.00%
	*	Actual
	Following is a description of the methodologies used to estimate the fair values of assets and liabilities measured at fair value on a recurring basis and within the fair value hierarchy.
	Investment in life settlements—The Company has elected to account for the life settlement policies it acquires using the fair value method. The Company uses a present value technique to estimate the fair value of our investments in life settlements, which is a Level 3 fair value measurement as the significant inputs are unobservable and require significant management judgment or estimation. The Company currently uses a probabilistic method of valuing life insurance policies, which we believe to be the preferred valuation method in the industry. The most significant assumptions are the estimates of life expectancy of the insured and the discount rate.
	In determining the life expectancy estimate, we analyze medical reviews from independent secondary market life expectancy providers (each a “LE provider”). An LE provider reviews the medical records and identifies all medical conditions it feels are relevant to the life expectancy of the insured. Debits and credits are then assigned by each LE provider to the individual’s health based on identified medical conditions. The debit or credit that an LE provider assigns to a medical condition is derived from the experience of mortality attributed to this condition in the portfolio of lives that the LE provider monitors. The health of the insured is summarized by the LE provider into a life assessment of the individual’s life expectancy expressed both in terms of months and in mortality factor.
	The resulting mortality factor represents an indication as to the degree to which the given life can be considered more or less impaired than a standard life having similar characteristics (e.g. gender, age, smoking, etc.). For example, a standard insured (the average life for the given mortality table) would carry a mortality rating of 100%. A similar but impaired life bearing a mortality rating of 200% would be considered to have twice the chance of dying earlier than the standard life. The probability of mortality for an insured is then calculated by applying the blended life expectancy estimate to a mortality table. The mortality table is created based on the rates of death among groups categorized by gender, age, and smoking status. By measuring how many deaths occur during each year, the table allows for a calculation of the probability of death in a given year for each category of insured people. The probability of mortality for an insured is found by applying the mortality rating from the life expectancy assessment to the probability found in the actuarial table for the insured’s age, sex and smoking status. Beginning in the quarter ended September 30, 2012, the Company began using a table developed by the U.S. Society of Actuaries known as the 2008 Valuation Basic Table, or the 2008 VBT. However, because the 2008 VBT table does not account for anticipated improvements in mortality in the insured population, the table was modified by outside consultants to reflect these expected mortality improvements. The Company believes that the change in mortality table does not materially impact the valuation of its life insurance policies and that its adoption of a modified 2008 VBT table is consistent with modified tables used by market participants and third party medical underwriters.
	The mortality rating is used to create a series of best estimate probabilistic cash flows. This probability represents a mathematical curve known as a mortality curve. This curve is then used to generate a series of expected cash flows over the remaining expected lifespan of the insured and the corresponding policy. A discounted present value calculation is then used to determine the value of the policy. If the insured dies earlier than expected, the return will be higher than if the insured dies when expected or later than expected.
	The calculation allows for the possibility that if the insured dies earlier than expected, the premiums needed to keep the policy in force will not have to be paid. Conversely, the calculation also considers the possibility that if the insured lives longer than expected, more premium payments will be necessary. Based on these considerations, each possible outcome is assigned a probability and the range of possible outcomes is then used to create a value for the policy.
	The Company currently procures its life expectancy reports from two life expectancy report providers, AVS Underwriting LLC (“AVS”) and 21st Services, LLC (“21st Services”), and averages or “blends” the results of their respective life expectancy reports to establish a composite mortality factor.
	In the first quarter of 2013, 21st Services announced revisions to its underwriting methodology. According to 21st Services, these revisions have generally been understood to lengthen the average reported life expectancy furnished by this life expectancy provider by 19%. To account for the impact of the revisions and based off of market responses to the methodology change, the Company initially lengthened the life expectancies furnished by 21st Services by 13% prior to blending them with the life expectancy reports furnished by AVS.
	As of March 31, 2014, the Company received 241 updated life expectancy reports from 21st Services, of which 198 were used to calculate life expectancy extension. These life expectancies reported an average lengthening of life expectancies of 14.57% and, based on this sample, for the three months ended March 31, 2014, the Company increased the life expectancies furnished by 21st Services by 14.57% on the rest of its portfolio of life settlements prior to blending them with the life expectancy reports furnished by AVS. The Company expects to continue to lengthen life expectancies furnished by 21st Services that have not been re-underwritten using their updated methodology. Since the Revolving Credit Facility necessitates that the Company procure updated life expectancies on a periodic basis, the number of policies that are lengthened by the Company in this manner will decrease over time and the fair value calculations in future periods will, accordingly, reflect the actual impact of the revised 21st Services methodology on a policy by policy basis as updated life expectancy reports are procured.
	Life expectancy sensitivity analysis
	As is the case with most market participants, the Company used a blend of life expectancies that are provided by two third-party LE providers. These are estimates of an insured’s remaining years. If all of the insured lives in the Company’s life settlement portfolio live six months shorter or longer than the life expectancies provided by these third parties, the change in estimated fair value would be as follows (dollars in thousands):
	Life Expectancy Months Adjustment		Value			Change in Value
	6		$	263,774		$	(51,690	)
	-			315,464			—
-6		$	371,481		$	56,017
Future changes in the life expectancies could have a material effect on the fair value of our investment in life settlements, which could have a material adverse effect on our business, financial condition and results of operations.
Discount rate
The discount rate incorporates current information about market interest rates, the credit exposure to the insurance company that issued the life insurance policy and our estimate of the risk premium an investor in the policy would require.
The Company re-evaluates its discount rates at the end of every reporting period in order to reflect the estimated discount rates that could reasonably be used in a market transaction involving the Company’s portfolio of life insurance policies. In doing so, the Company relies on management insight, engages third party consultants to corroborate its assessment, engages in discussions with other market participants and potential financing sources and extrapolates the discount rate underlying actual sales of policies.
Due to the Company’s association with the USAO Investigation, the Company believes that, when given the choice to invest in a policy that was associated with the Company’s premium finance business and a similar policy without such an association, all else being equal, an investor would have generally opted to invest in the policy that was not associated with the Company’s premium finance business. However, since the Company entered into a non-prosecution agreement, investors have required less of a risk premium to transact in these policies and the Company expects that, in time, investors will continue to require less of a risk premium to transact in policies associated with its premium finance business.
Credit exposure of insurance company
The Company considers the financial standing of the issuer of each life insurance policy. Typically, we seek to hold policies issued by insurance companies that are rated investment grade by the top three credit rating agencies. At March 31, 2014, the Company had nineteen life insurance policies issued by two carriers that were rated non-investment grade as of that date. In order to compensate a market participant for the perceived credit and challenge risks associated with these policies, the Company applied an additional 300 basis point risk premium.
The following table provides information about the life insurance issuer concentrations that exceed 10% of total death benefit and 10% of total fair value of our investments in life settlements as of March 31, 2014:
Carrier		Percentage			Percentage of			Moody’s			S&P
		of Total			Total Death			Rating			Rating
		Fair Value			Benefit
Transamerica Occidental Life Insurance Company			25.7	%		20.5	%		A1			AA-
Lincoln National Life Insurance Company			21	%		20.6	%		A1			AA-
AXA Equitable Life Insurance Company			10.1	%		11.2	%		Aa3			A+
Estimated risk premium
As of March 31, 2014, the Company owned 601 policies with an aggregate investment in life settlements of $315.5 million. Of these 601 policies, 558 were previously premium financed and are valued using discount rates that range from 16.80% to 26.80%. The remaining 43 policies, which are non-premium financed, are valued using discount rates that range from 14.80% to 20.80%. As of March 31, 2014, the weighted average discount rate calculated based on death benefit used in valuing the policies in our life settlement portfolio was 19.05%.
The discount rate incorporates current information about market interest rates, the credit exposure to the insurance company that issued the life insurance policy and our estimate of the risk premium an investor in the policy would require. The extent to which the fair value could vary in the near term has been quantified by evaluating the effect of changes in the weighted average discount rate on the death benefit used to estimate the fair value. If the weighted average discount rate were increased or decreased by 1/2 of 1% and the other assumptions used to estimate fair value remained the same, the change in estimated fair value would be as follows (dollars in thousands):
Market interest rate sensitivity analysis
Weighted Average Rate Calculated Based on Death Benefit		Rate			Value			Change in Value
		Adjustment
18.55%			-0.5	%	$	324,713		$	9,249
19.05%			—		$	315,464		$	—
19.55%			0.5	%	$	306,620		$	(8,844	)
Future changes in the discount rates we use to value life insurance policies could have a material effect on our yield on life settlement transactions, which could have a material adverse effect on our business, financial condition and results of our operations.
At the end of each reporting period we re-value the life insurance policies using our valuation model in order to update our estimate of fair value for investments in policies held on our balance sheet. This includes reviewing our assumptions for discount rates and life expectancies as well as incorporating current information for premium payments and the passage of time.
Structured settlement receivables—All structured settlements that were acquired subsequent to July 1, 2010 were marked to fair value. We make this election because it is our intention to sell these assets within the next twelve months. Structured settlements are purchased at effective yields that are fixed. Purchase discounts are accreted into interest income using the effective-interest method for those structured settlements marked to fair value. As of March 31, 2014, the Company had 17 structured settlements with an estimated fair value of $388,000 and an average sales discount rate of 8.66%.
Revolving Credit Facility debt—In connection with the Revolving Credit Facility, White Eagle pledged 459 policies to serve as collateral for its obligations under the facility. Absent an event of default under the Revolving Credit Facility, ongoing borrowings will be used to pay the premiums on these policies and certain approved third party expenses. Proceeds from the policies pledged as collateral will be distributed pursuant to a waterfall. After premium payments and fees to service providers, 100% of the remaining proceeds will be directed to pay outstanding principal and interest on the loan. Generally, after payment of principal and interest, collections from policy proceeds are to be paid to White Eagle up to $76.1 million, then 50% of the remaining proceeds are to be directed to the lenders with the remainder paid to White Eagle. We have elected to account for this long-term debt, which includes the lender’s interest in policy proceeds, using the fair value method. The fair value of the debt is the amount the Company would have to pay to transfer the debt to a market participant in an orderly transaction. We calculated the fair value of the debt using a discounted cash flow model taking into account the stated interest rate of the Revolving Credit Facility and probabilistic cash flows from the pledged policies. Accordingly, our estimates are not necessarily indicative of the amounts that we, or holders of the instruments, could realize in a current market exchange. The most significant assumptions are the estimates of life expectancy of the insured and the discount rate. The use of different assumptions and/or estimation methodologies could have a material effect on the estimated fair values.
Life expectancy sensitivity analysis of Revolving Credit Facility debt
A considerable portion of the fair value of the Revolving Credit Facility debt derives from the timing of receipt of future policy proceeds. Should life expectancies lengthen such that policy proceeds are collected further into the future, the fair value of this debt will decline. Conversely, should life expectancies shorten, the fair value of this debt will increase. Considerable judgment is required in interpreting market data to develop the estimates of fair value.
If all of the insured lives in the Company’s life settlement portfolio live six months shorter or longer than the life expectancies used to calculate the estimated fair value of the Revolving Credit Facility debt, the change in estimated fair value would be as follows (dollars in thousands):
Life Expectancy Months Adjustment		Fair Value of			Change in Value
		Revolving Credit
		Facility Debt
6		$	114,880		$	(19,072	)
-		$	133,952			—
-6		$	154,405		$	20,453
Future changes in the life expectancies could have a material effect on the fair value of our Revolving Credit Facility debt, which could have a material adverse effect on our business, financial condition and results of operations.
Discount rate of Revolving Credit Facility debt
The discount rate incorporates current information about market interest rates, credit exposure to insurance companies and our estimate of the return a lender lending against the policies would require.
Market interest rate sensitivity analysis of Revolving Credit Facility debt
The extent to which the fair value of the Revolving Credit Facility debt could vary in the near term has been quantified by evaluating the effect of changes in the weighted average discount. If the weighted average discount rate were increased or decreased by  1⁄2 of 1% and the other assumptions used to estimate fair value remained the same, the change in estimated fair value of the Revolving Credit Facility debt as of March 31, 2014 would be as follows (dollars in thousands):
Discount Rate		Rate			Fair Value of			Change in Value
		Adjustment			Revolving Credit
					Facility Debt
23.40%			-0.5	%	$	136,607		$	2,655
23.90%			—		$	133,952		$	—
24.40%			0.5	%	$	131,390		$	(2,562	)
Future changes in the discount rates could have a material effect on the fair value of our Revolving Credit Facility debt, which could have a material adverse effect on our business, financial condition and results of our operations.
At March 31, 2014, the fair value of the debt was $134.0 million and the outstanding principal was approximately $142.2 million.
Senior Unsecured Convertible Note- The Company determined that the embedded conversion option in the Notes is required to be separately accounted for as a derivative under Accounting Standards Codification 815, Derivatives and Hedging (“ASC 815”). ASC 815 requires the Company to bifurcate the embedded conversion option and record it as a liability at fair value and reduce the debt liability by a corresponding discount of an equivalent amount. The Company uses a Black Scholes pricing model that incorporates present valuation techniques and reflect both the time value and the intrinsic value of the embedded conversion option to approximate the fair value of the conversion derivative liability at the end of each reporting period. This model requires assumptions as to expected volatility, dividends, terms, and risk free rates. Although we believe our valuation method is appropriate, the use of different methodologies or assumptions to determine the fair value could result in different fair values.
Changes in Fair Value
The following tables provide a roll-forward in the changes in fair value for the three months ended March 31, 2014, for assets for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands):
Life Settlements:
Balance, January 1, 2014		$	302,961
Purchase of policies			—
Acquired in foreclosure			—
Change in fair value			13,956
Matured/sold policies			(14,717	)
Premiums paid			13,264
Transfers into level 3			—
Transfer out of level 3			—
Balance, March 31, 2014		$	315,464
Changes in fair value included in earnings for the period relating to assets held at March 31, 2014		$	3,291
The following tables provide a roll-forward in the changes in fair value for three months ended March 31, 2014, for all liabilities for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands):
Revolving Credit Facility debt:
Balance, January 1, 2014		$	123,847
Subsequent draws under the revolving credit facility			14,982
Payments on credit facility			(6,006	)
Unrealized change in fair value			1,129
Transfers into level 3			—
Transfer out of level 3			—
Balance, March 31, 2014		$	133,952
Changes in fair value included in earnings for the period relating to liabilities held at March 31, 2014		$	1,129
Conversion derivative liability:
Balance, at inception			16,901
Change in fair value			2,062
Transfers into level 3			—
Transfer out of level 3			—
Balance, March 31, 2014			18,963
Changes in fair value included in earnings for the period relating to liabilities held at March 31, 2014		$	2,062
The following tables provide a roll-forward in the changes in fair value for three months ended March 31, 2013, for all assets for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands):
Life Settlements:
Balance, January 1, 2013		$	113,441
Acquired in foreclosure			1,524
Change in fair value			(3,036	)
Matured policies			(1,160	)
Premiums paid			6,963
Transfers into level 3			—
Transfer out of level 3			—
Balance, March 31, 2013			117,732
Changes in fair value included in earnings for the period relating to assets held at March 31, 2013		$	2,685
There were no transfers of financial assets or liabilities between levels of the fair value hierarchy during the three months ended March 31, 2014 and 2013.

Segment_Information

Segment Information	3 Months Ended
	Mar. 31, 2014
Segment Information	'
	(12) Segment Information
	On October 25, 2013, the Company sold its structured settlement business, which was previously reported as an operating segment. The operating results related to the Company’s structured settlement business have been included in discontinued operations in the Company’s Consolidated Statements of Operations for all periods presented and the Company has discontinued segment reporting.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies	'
	(13) Commitments and Contingencies
	Lease Agreements
	The Company leases office space under operating lease agreements that expire on October 31, 2014. The lease contains a provision for a 5% increase of the base rent annually on the anniversary of the rent commencement date. Rent expense under the leases was approximately $126,000 for the three months ended March 31, 2014 and 2013. Future minimum payments under operating leases for the remainder of 2014 are approximately $338,000.
	Employment Agreements
	In connection with our initial public offering, we entered into an employment agreement with our chief executive officer, which provides for substantial payments in the event that the executive terminates his employment with us due to a material change in the geographic location where such officer performs his duties or upon a material diminution of his base salary or responsibilities, with or without cause. These payments are equal to three times the sum of our chief executive officer’s base salary and the average of the three years’ annual cash bonus.
	On April 26, 2012, the Company entered into a Separation Agreement and General Release of Claims (the “Separation Agreement”) with its former chief operating officer, Jonathan Neuman. The Separation Agreement obligates the Company to indemnify Mr. Neuman for his legal expenses. The Company recognized indemnification expenses of $459,000 and $627,000 during the three months ended March 31, 2014 and 2013, respectively.
	We do not have any general policies regarding the use of employment agreements, but may, from time to time, enter into such a written agreement to reflect the terms and conditions of employment of a particular named executive officer, whether at the time of hire or thereafter.
	Litigation
	In accordance with applicable accounting guidance, the Company establishes an accrued liability for litigation and regulatory matters when those matters present loss contingencies that are both probable and estimable. In such cases, there may be an exposure to loss in excess of any amounts accrued. When a loss contingency is not both probable and estimable, the Company does not establish an accrued liability. As a litigation or regulatory matter develops, the Company, in conjunction with any outside counsel handling the matter, evaluates on an ongoing basis whether such matter presents a loss contingency that is probable and estimable. If, at the time of evaluation, the loss contingency related to a litigation or regulatory matter is not both probable and estimable, the matter will continue to be monitored for further developments that would make such loss contingency both probable and estimable. When a loss contingency related to a litigation or regulatory matter is deemed to be both probable and estimable, the Company will establish an accrued liability with respect to such loss contingency and record a corresponding amount of litigation-related expense. The Company will then continue to monitor the matter for further developments that could affect the amount of any such accrued liability.
	Non-Prosecution Agreement
	On September 27, 2011, the Company was informed that it was being investigated by the U.S. Attorney’s Office for the District of New Hampshire (the “USAO Investigation”). At that time, the Company was informed that, among other individuals, its former president and chief operating officer and, three former life finance sales executives were considered “targets” of the USAO Investigation. The USAO Investigation focused on the Company’s premium finance loan business.
	On April 30, 2012, the Company entered into a Non-Prosecution Agreement (the “Non-Prosecution Agreement”) with the USAO, which agreed not to prosecute the Company for its involvement in the making of misrepresentations on life insurance applications in connection with its premium finance business or any potential securities fraud claims related to its premium finance business. In the Non-Prosecution Agreement, the USAO and the Company agreed among other things, that the following facts are true and correct: (i) at all relevant times (x) certain insurance companies required that the prospective insured applying for a life insurance policy, and sometimes the agent, disclose information relating to premium financing on applications for life insurance policies, and (y) the questions typically required the prospective insured to disclose if he or she intended to seek premium financing in connection with the policy and sometimes required the agent to disclose if he or she was aware of any such intent on the part of the applicant; (ii) in connection with a portion of the Company’s retail operation known as “retail non-seminar” that began in December 2006 and was discontinued in January 2009, Imperial had a practice of disclosing on applications that the prospective insured was seeking premium financing when the life insurance company allowed premium financing from Imperial; however, in certain circumstances, Imperial internal life agents facilitated and/or made misrepresentations on applications that the prospective insured was not seeking premium financing when the insurance carrier was likely to deny the policy on the basis of premium financing; and (iii) to the extent that external agents, brokers and insureds caused other misrepresentations to be made in life insurance applications in connection with the retail non-seminar business, Imperial failed to appropriately tailor controls to prevent potential fraudulent practices in that business. As of March 31, 2014, the Company had 39 policies in its portfolio that once served as collateral for premium finance loans derived through the retail non-seminar business.
	In connection with the Non-Prosecution Agreement, Imperial voluntarily agreed to terminate its premium finance business, which historically accounted for the majority of the Company’s income and terminated certain senior sales staff associated with the premium finance business. Additionally, the Company paid the United States Government $8.0 million, and agreed to cooperate fully with the USAO’s ongoing investigation and to refrain from and self-report any criminal conduct. The Non-Prosecution Agreement has a term of three years until April 30, 2015, but the Company may petition the USAO to forego the final year of the Non-Prosecution Agreement, if the Company otherwise complies with all of its obligations under the Non-Prosecution Agreement. Should the USAO conclude that Imperial has not abided by its obligations under the Non-Prosecution Agreement, the USAO could choose to terminate the Non-Prosecution Agreement, resume its investigation of the Company, or bring charges against Imperial. While the Non-Prosecution Agreement effectively resolved the USAO Investigation as it pertains to the Company (subject to the Company’s continuing compliance with its terms), the USAO is continuing to investigate certain individuals formerly employed by the Company and the Company is continuing to incur expenses regarding its indemnification obligations with respect to such individuals.
	In addition, settlements of certain civil litigation with the Company’s director and officer liability insurance carriers related to the USAO Investigation require Imperial to advance legal fees to and indemnify certain individuals. The obligation to advance and indemnify on behalf of these individuals, while currently unquantifiable, may be substantial and could have a material adverse effect on the Company’s financial position and results of operations. Excluding expenses of general external legal service providers, USAO litigation-related fees (inclusive of indemnification and advancement expenses) of $784,000 and $1.4 million were recognized for the three months ended March 31, 2014 and 2013, respectively.
	Class Action Litigation
	On December 16, 2013, final approval of the settlement to the class action designated Fuller v. Imperial Holdings et al. was granted by the United States District Court for the Southern District of Florida. The terms of the class action settlement included a cash payment of $12.0 million, with $11.0 million contributed by the Company’s primary and excess director and officer liability insurance carriers, with such amounts paid during the quarter ended March 31, 2014. The terms of the settlement also include the issuance of warrants to purchase two million shares of the Company’s stock. The estimated fair value at March 31, 2014 of such warrants was $5.4 million. The warrants, which were issued into an escrow account in April 2014 will have a five-year term from the date they are distributed to class participants and have an exercise price of $10.75.
	Derivative Litigation
	On December 17, 2013, final approval of the settlement to the derivative designated action Robert Andrzejczyk v. Imperial Holdings, Inc. et al. was granted by the 15th Judicial Circuit in and for Palm Beach County, Florida. The settlement requires implementation of certain compliance reforms and included the payment by the Company’s primary director and officer liability insurance carrier of $1.5 million for legal fees and the contribution of 125,628 shares of the Company’s stock, which were issued in the first quarter of 2014.
	SEC Investigation
	On February 17, 2012, the Company first received a subpoena issued by the staff of the SEC seeking documents from 2007 through the date of the subpoena, generally related to the Company’s premium finance business and corresponding financial reporting. The SEC is investigating whether any violations of federal securities laws have occurred and the Company has been cooperating with the SEC regarding this matter. The Company is unable to predict what action, if any, might be taken in the future by the SEC or its staff as a result of the investigation or what impact, if any, the cost of responding to the SEC might have on the Company’s financial position, results of operations, or cash flows. The Company has not established any provision for losses in respect of this matter.
	Sun Life
	On April 18, 2013, Sun Life Assurance Company of Canada (“Sun Life”) filed a complaint against the Company and several of its affiliates in the United States District Court for the Southern District of Florida, entitled Sun Life Assurance Company of Canada v. Imperial Holdings, Inc., et al. (“Sun Life Case”). The complaint seeks to contest the validity of at least twenty-nine policies issued by Sun Life. The complaint also asserts the following claims: (1) violations of the federal Racketeer Influenced and Corrupt Organizations Act, (2) common law fraud, (3) civil conspiracy, (4) tortious interference with contractual obligations, and (5) an equitable accounting. In response to a motion to dismiss filed by the Company, Sun Life filed an amended complaint on June 13, 2013. The Company believes that the amended complaint is without merit and filed another motion to dismiss on July 8, 2013. Sun Life responded to the second motion to dismiss on August 1, 2013 and the Company filed its reply on August 19, 2013. The Company intends to defend itself vigorously. No reserve has been established for this litigation.
	On July 29, 2013, the Company filed a complaint against Sun Life in United States District Court for the Southern District of Florida, entitled Imperial Premium Finance, LLC (“IPF”) v. Sun Life Assurance Company of Canada (“IPF Case”). The complaint asserts claims against Sun Life for breach of contract, breach of the covenant of good faith and fair dealing, and fraud, and seeks a judgment declaring that Sun Life is obligated to comply with the promises made by it in certain insurance policies. The complaint also seeks compensatory damages of no less than $30 million in addition to an award of punitive damages. On August 23, 2013, Sun Life moved to dismiss the complaint. IPF filed its response on September 9, 2013, and Sun Life filed its reply on September 19, 2013.
	The Sun Life Case and IPF Case have been consolidated for all purposes, including trial.
	Sanctions Order
	On April 27, 2012, after the conclusion of a jury trial in the matter styled Steven A. Sciaretta, as Trustee of the Barton Cotton Irrevocable Trust a/k/a the Amended and Restated Barton Cotton Irrevocable Trust v. The Lincoln National Life Insurance Company (“Lincoln”) , the defendant, Lincoln, filed a motion seeking sanctions against the Company’s subsidiary, Imperial Premium Finance (“IPF”), a non-party to the litigation, relating to its corporate representative deposition and trial testimony. On May 6, 2013, the Court issued an order sanctioning IPF and ordering it to pay $850,000. On June 4, 2013, IPF filed a Notice of Appeal of the order to the Eleventh Circuit Court of Appeals. The matter is fully briefed and pending oral argument. The Company recorded a reserve of $850,000 that is included in other liabilities as of March 31, 2014.
	IRS Investigation
	On February 19, 2014, the Company and certain of its subsidiaries received summonses from the Internal Revenue Service (“IRS”) Criminal Investigation Division requesting information about the Company and its former structured settlement business and other specified records from 2010 to the present. We have confirmed that the investigation relates to the Company and its legacy structured settlements business. The Company has been cooperating with the investigation and is unable, at this time, to predict what action, if any, might be taken in the future by the IRS as a result of the matters that are the subject of the summonses or what impact, if any, the cost of providing information and documents might have on its financial condition, results of operations, or cash flows. In addition, if the investigation results in a determination by the IRS that the Company has failed to comply with any of its obligations under the Internal Revenue Code or regulations thereunder, the Company could incur additional tax liability, restitution payment obligations, penalties, fines or other liabilities, including criminal penalties and fines and a reduction in the Company’s net operating losses, that could have a material adverse effect on the Company, its personnel, its financial condition, its results of operations, or its cash flows.
	Other Litigation
	The Company is party to various other legal proceedings that arise in the ordinary course of business. Due to the inherent difficulty of predicting the outcome of litigation and other legal proceedings, the Company cannot predict the eventual outcome of these matters, and it is reasonably possible that some of them could be resolved unfavorably to the Company. As a result, it is possible that the Company’s results of operations or cash flows in a particular fiscal period could be materially affected by an unfavorable resolution of pending litigation or contingencies. However, the Company believes that the resolution of these other proceedings will not, based on information currently available, have a material adverse effect on the Company’s financial position or results of operations.

Stockholders_Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2014
Stockholders' Equity	'
	(14) Stockholders’ Equity
	The Company has reserved an aggregate of 1,200,000 shares of common stock under its Omnibus Plan, of which 816,116 options to purchase shares of common stock granted to existing employees were outstanding as of March 31, 2014, and an additional 20,793 shares of restricted stock of which 3,507 were granted in 2011, 17,286 were granted in 2013 and 13,759 shares of unrestricted stock had been granted to directors under the plan subject to vesting. There were 349,332 securities remaining for future issuance under the Omnibus Plan as of March 31, 2014.
	During the quarter, the Company adopted ASU No. 2013-11, adoption of this guidance resulted in an increase to additional paid-in-capital of $6.3 million on the Company’s consolidated balance sheet and consolidated statement of stockholders’ equity as of March 31, 2014. See Note 3, Recent Accounting Pronouncements

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Taxes	'
	(15) Income Taxes
	Our provision for income taxes is estimated to result in an annual effective tax rate of 38.8% in 2014, except as noted below. For periods prior to 2014 our provision for income taxes is estimated to result in an annual effective tax rate of 0.0%. The 0.0% effective tax rate was the result of our recording of a valuation allowance for those deferred tax assets that were not expected to be recovered in the future. Due to the adoption of ASU 2013-11 effective January 1, 2014, the Company is no longer in a net deferred tax asset position.
	Included in our provision for income taxes for the quarter ended March 31, 2014 is a $3.7 million provision attributed to the adoption of guidance provided in ASU No. 2013-11, that was effective on January 1, 2014. In addition, as a result of the adoption of this standard, the Company recorded a $6.3 million increase to additional paid-in-capital.
	In March of 2014, the Company was notified by the IRS of its intention to examine the Company’s tax returns for the years ended December 31, 2011 and 2012, respectively. The IRS has not started its examination of such tax returns. See also “IRS Investigation” in Note 13 regarding the IRS Criminal Investigation Division’s investigation related to the Company’s former structured settlement business.
	The Company and its subsidiaries are subject to U.S. federal income tax as well as to income tax in Florida and other states in which it operates.

Principles_of_Consolidation_an1

Principles of Consolidation and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2014
Derivative Instruments	'
	Derivative Instruments
	The Company issued and sold $70.7 million in aggregate principal amount of 8.50% senior unsecured convertible notes due 2019 (the “Notes”) that contain an embedded derivative feature. In accordance with Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging, derivative instruments are recognized as either assets or liabilities on the Company’s balance sheet and are measured at fair value with gains or losses recognized in earnings. Embedded derivatives that are not clearly and closely related to the host contract, such as the Notes, are bifurcated and recognized at fair value with changes in fair value recognized as either a gain or loss in earnings if they can be reliably measured. The Company determines the fair value of its derivative instruments based upon available market data and unobservable inputs using a Black Scholes pricing model.
Use of Estimates	'
	Use of Estimates
	The preparation of these consolidated financial statements, in conformity with generally accepted accounting principles in the United States of America (“GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from these estimates and such differences could be material. Significant estimates made by management include income taxes, the valuation of investments in life settlements, the valuation of the debt owing under the Revolving Credit Facility and the valuation of the conversion derivative liability embedded within the Company’s Notes.

Consolidation_of_Variable_Inte1

Consolidation of Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2014
Consolidated Assets and Consolidated Liabilities of VIEs	'
	The following table presents the consolidated assets and consolidated liabilities of VIEs for which the Company has concluded that it is the primary beneficiary and which are consolidated in the Company’s consolidated financial statements as of March 31, 2014 as well as non-consolidated VIEs for which the Company has determined it is not the primary beneficiary (in thousands):
		Primary Beneficiary				Not Primary Beneficiary
		Consolidated VIEs				Non-consolidated VIEs
		Assets		Liabilities		Total		Maximum Exposure
						Assets		To Loss
	31-Mar-14	$	285,087	$	134,219	$	2,384	$	2,384
	31-Dec-13	$	264,596	$	124,188	$	2,378	$	2,378

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2014
Reconciliation of Actual Basic and Diluted Earnings Per Share	'
	The following tables reconcile actual basic and diluted earnings per share for the three months ended March 31, 2014 and 2013 (in thousands except share and per share data).
			For the Three Months Ended
			March 31,
			2014(1)			2013(2)
	Earnings per share:
	Numerator:
	Net income (loss) from continuing operations		$	(3,318	)	$	(5,336	)
	Net income (loss) income from discontinued operations		$	(19	)	$	1,005
	Net income (loss)		$	(3,337	)	$	(4,331	)
	Basic earnings per common share:
	Basic income (loss) from continuing operations		$	(0.16	)	$	(0.25	)
	Basic income (loss) from discontinued operations		$	—		$	0.05
	Basic income (loss) per share available to common shareholders		$	(0.16	)	$	(0.20	)
	Diluted earnings per per common share:
	Diluted income (loss) from continuing operations.		$	(0.16	)	$	(0.25	)
	Diluted income (loss) from discontinued operations		$	—		$	0.05
	Diluted income (loss) per share available to common shareholders		$	(0.16	)	$	(0.20	)
	Denominator:
	Basic and diluted			21,344,112			21,206,121
	-1	The computation of diluted EPS does not include 816,116 options, 4,240,521 warrants, up to 10,464,941 shares of underlying common stock issuable upon conversion of the Notes and 17,286 shares of restricted stock for the three months ended March 31, 2014, as the effect of their inclusion would have been anti-dilutive.
	-2	The computation of diluted EPS did not include 485,695 options and 4,240,521 warrants for the three months ended March 31, 2013, as the effect of their inclusion would have been anti-dilutive.

Stockbased_Compensation_Tables

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2014
Common Stock Option Activity	'
	The following table presents the activity of the Company’s outstanding stock options of common stock for the three months ended March 31, 2014:
	Common Stock Options	Number of			Weighted		Weighted		Aggregate
		Shares			Average Price		Average		Intrinsic
					per Share		Remaining		Value
							Contractual
							Term
	Options outstanding, January 1, 2014		831,282		$	8.46		5.51		—
	Options granted		—			—		—		—
	Options exercised		—			—		—		—
	Options forfeited		(15,166	)	$	6.94		6.18		—
	Options expired		—			—		—		—
	Options outstanding, March 31, 2014		816,116		$	8.49		5.24		—
	Exercisable at March 31, 2014		493,428		$	9.5		4.63		—
	Unvested at March 31, 2014		322,688		$	6.94		6.18		—
Activity of Unvested Restricted Stock	'
	The following table presents the activity of the Company’s restricted stock for the three months ended March 31, 2014:
	Common Unvested Shares	Number of
		Shares
	Outstanding January 1, 2014		17,286
	Granted		—
	Vested		—
	Forfeited		—
	Outstanding March 31, 2014		17,286

Discontinued_Operations_Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2014
Operating Results of Discontinued Structured Settlement Business	'
	Operating results related to the Company’s discontinued structured settlement business are as follows:
		Three Months Ended
		March 31,
		2014			2013
	Total income (loss)	$	75		$	4,192
	Total expenses		(94	)		(3,187	)
	Income (loss) before income taxes		(19	)		1,005
	Income tax expense		—			—
	Net income (loss) from discontinued operations	$	(19	)	$	1,005

Investment_in_Life_Settlements1

Investment in Life Settlements (Life Insurance Policies) (Tables)	3 Months Ended
	Mar. 31, 2014
Investments in Life Settlements	'
	The weighted average life expectancy calculated based on death benefit of insureds in the policies owned by the Company at March 31, 2014 was 11.4 years. The following table describes the Company’s investments in life settlements as of March 31, 2014 (dollars in thousands):
	Remaining Life Expectancy (In Years)	Number of		Fair Value		Face Value
		Life
		Settlement
		Contracts
	0 - 1		—	$	—	$	—
	2-Jan		—		—		—
	3-Feb		5		7,496		14,875
	4-Mar		8		13,818		34,400
	5-Apr		11		16,812		51,450
	Thereafter		577		277,338		2,819,674
	Total		601	$	315,464	$	2,920,399
	The weighted average life expectancy calculated based on death benefit of insureds in the policies owned by the Company at December 31, 2013 was 11.6 years. The following table describes the Company’s investments in life settlements as of December 31, 2013 (dollars in thousands):
	Remaining Life Expectancy (In Years)	Number of		Fair Value		Face Value
		Life Settlement
		Contracts
	0-1		—	$	—	$	—
	2-Jan		—		—		—
	3-Feb		6		8,489		16,875
	4-Mar		10		14,171		38,100
	5-Apr		8		13,529		40,250
	Thereafter		588		266,772		2,859,665
	Total		612	$	302,961	$	2,954,890
Estimated Premiums To Be Paid	'
	Estimated premiums to be paid for each of the five succeeding fiscal years to keep the life insurance policies in force as of March 31, 2014, are as follows (in thousands):
	Remainder of 2014	$	40,069
	2015		52,957
	2016		56,215
	2017		62,849
	2018		67,281
	Thereafter		1,136,388
		$	1,415,759

Debt_Disclosure_Tables

Debt Disclosure (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value of Conversion Derivative Liability	'
	The fair value of the conversion derivative liability was estimated at March 31, 2014 using a Black Scholes pricing model using the following assumptions:
		Three Months Ended
		March 31, 2014
	Expected Volatility		40	%
	Expected Term in Years		4.9
	Risk Free Rate		1.7	%

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2014
Assets Measured at Fair Value on Recurring Basis	'
	The balances of the Company’s assets measured at fair value on a recurring basis as of March 31, 2014, are as follows (in thousands):
			Level 1			Level 2			Level 3			Total
												Fair Value
	Assets:
	Investment in life settlements		$	—		$	—		$	315,464		$	315,464
	Structured settlement receivables			—			—			388			388
			$	—		$	—		$	315,852		$	315,852
	The balances of the Company’s assets measured at fair value on a recurring basis as of December 31, 2013, are as follows (in thousands):
			Level 1			Level 2			Level 3			Total
												Fair Value
	Assets:
	Investment in life settlements		$	—		$	—		$	302,961		$	302,961
	Structured settlement receivables			—			—			660			660
			$	—		$	—		$	303,621		$	303,621
Liabilities Measured at Fair Value on Recurring Basis	'
	The balances of the Company’s liabilities measured at fair value on a recurring basis as of March 31, 2014 are as follows (in thousands):
			Level 1			Level 2			Level 3			Total
												Fair Value
	Liabilities:
	Revolving Credit Facility debt		$	—		$	—		$	133,952		$	133,952
	Conversion derivative liability embedded in the Notes			—			—			18,963			18,963
			$	—		$	—		$	152,915		$	152,915
	The balances of the Company’s liabilities measured at fair value on a recurring basis as of December 31, 2013, are as follows (in thousands):
			Level 1			Level 2			Level 3			Total
												Fair Value
	Liabilities:
	Revolving Credit Facility debt		$	—		$	—		$	123,847		$	123,847
			$	—		$	—		$	123,847		$	123,847
Quantitative Information about Level 3 Fair Value Measurements	'
			Fair Value			Aggregate			Valuation Technique (s)		Unobservable Input	Range
			at 3/31/14			death benefit						(Weighted Average)
						at 3/31/14
	Non-premium financed		$	38,350		$	206,450		Discounted cash flow		Discount rate	14.80% - 20.80%
											Life expectancy evaluation	(8.8 years)
	Premium financed		$	277,114		$	2,713,949		Discounted cash flow		Discount rate	16.80% - 26.80%
											Life expectancy evaluation	(11.6) years
	Investment in life settlements		$	315,464		$	2,920,399		Discounted cash flow		Discount rate	-19.05%
											Life expectancy evaluation	(11.4 years)
	Structured settlements receivables		$	388			N/A		Discounted cash flow		Facility sales discount rates	8.66%
											Discount rate	23.90%*
	Revolving Credit Facility debt		$	133,952			N/A		Discounted cash flow		Life expectancy evaluation	(10.9 years)
											Discount rate	1.70%
	Conversion derivative liability		$	18,963			N/A		Black Scholes pricing model		Volatility	40.00%
	*	Actual
Life Insurance Issuer concentrations	'
	The following table provides information about the life insurance issuer concentrations that exceed 10% of total death benefit and 10% of total fair value of our investments in life settlements as of March 31, 2014:
	Carrier		Percentage			Percentage of			Moody’s			S&P
			of Total			Total Death			Rating			Rating
			Fair Value			Benefit
	Transamerica Occidental Life Insurance Company			25.7	%		20.5	%		A1			AA-
	Lincoln National Life Insurance Company			21	%		20.6	%		A1			AA-
	AXA Equitable Life Insurance Company			10.1	%		11.2	%		Aa3			A+
Changes in Fair Value for All Assets Using Material Level of Unobservable (Level 3) Inputs	'
	The following tables provide a roll-forward in the changes in fair value for the three months ended March 31, 2014, for assets for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands):
	Life Settlements:
	Balance, January 1, 2014		$	302,961
	Purchase of policies			—
	Acquired in foreclosure			—
	Change in fair value			13,956
	Matured/sold policies			(14,717	)
	Premiums paid			13,264
	Transfers into level 3			—
	Transfer out of level 3			—
	Balance, March 31, 2014		$	315,464
	Changes in fair value included in earnings for the period relating to assets held at March 31, 2014		$	3,291
	The following tables provide a roll-forward in the changes in fair value for three months ended March 31, 2013, for all assets for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands):
	Life Settlements:
	Balance, January 1, 2013		$	113,441
	Acquired in foreclosure			1,524
	Change in fair value			(3,036	)
	Matured policies			(1,160	)
	Premiums paid			6,963
	Transfers into level 3			—
	Transfer out of level 3			—
	Balance, March 31, 2013			117,732
	Changes in fair value included in earnings for the period relating to assets held at March 31, 2013		$	2,685
Changes in Fair Value for All Liabilities Using Material Level of Unobservable (Level 3) Inputs	'
	The following tables provide a roll-forward in the changes in fair value for three months ended March 31, 2014, for all liabilities for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands):
	Revolving Credit Facility debt:
	Balance, January 1, 2014		$	123,847
	Subsequent draws under the revolving credit facility			14,982
	Payments on credit facility			(6,006	)
	Unrealized change in fair value			1,129
	Transfers into level 3			—
	Transfer out of level 3			—
	Balance, March 31, 2014		$	133,952
	Changes in fair value included in earnings for the period relating to liabilities held at March 31, 2014		$	1,129
	Conversion derivative liability:
	Balance, at inception			16,901
	Change in fair value			2,062
	Transfers into level 3			—
	Transfer out of level 3			—
	Balance, March 31, 2014			18,963
	Changes in fair value included in earnings for the period relating to liabilities held at March 31, 2014		$	2,062
Market Approach Valuation Technique	'
Market Interest Rate Sensitivity Analysis	'
	Market interest rate sensitivity analysis
	Weighted Average Rate Calculated Based on Death Benefit		Rate			Value			Change in Value
			Adjustment
	18.55%			-0.5	%	$	324,713		$	9,249
	19.05%			—		$	315,464		$	—
	19.55%			0.5	%	$	306,620		$	(8,844	)
Changes in estimated fair value, If all of the insured lives in the Company's life settlement portfolio live six months longer than the life expectancies provided by third parties.	'
Life Expectancies	'
	If all of the insured lives in the Company’s life settlement portfolio live six months shorter or longer than the life expectancies provided by these third parties, the change in estimated fair value would be as follows (dollars in thousands):
	Life Expectancy Months Adjustment		Value			Change in Value
	6		$	263,774		$	(51,690	)
	-			315,464			—
	-6		$	371,481		$	56,017
Revolving Credit Facility | Market Approach Valuation Technique	'
Market Interest Rate Sensitivity Analysis	'
	If the weighted average discount rate were increased or decreased by  1⁄2 of 1% and the other assumptions used to estimate fair value remained the same, the change in estimated fair value of the Revolving Credit Facility debt as of March 31, 2014 would be as follows (dollars in thousands):
	Discount Rate		Rate			Fair Value of			Change in Value
			Adjustment			Revolving Credit
						Facility Debt
	23.40%			-0.5	%	$	136,607		$	2,655
	23.90%			—		$	133,952		$	—
	24.40%			0.5	%	$	131,390		$	(2,562	)
Revolving Credit Facility | Changes in estimated fair value, If all of the insured lives in the Company's life settlement portfolio live six months longer than the life expectancies provided by third parties.	'
Life Expectancies	'
	If all of the insured lives in the Company’s life settlement portfolio live six months shorter or longer than the life expectancies used to calculate the estimated fair value of the Revolving Credit Facility debt, the change in estimated fair value would be as follows (dollars in thousands):
	Life Expectancy Months Adjustment		Fair Value of			Change in Value
			Revolving Credit
			Facility Debt
	6		$	114,880		$	(19,072	)
	-		$	133,952			—
	-6		$	154,405		$	20,453

Description_of_Business_Additi

Description of Business - Additional Information (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Apr. 29, 2013	Mar. 31, 2014
In Thousands, unless otherwise specified	Contract	Contract	Revolving Credit Facility	Revolving Credit Facility
			Securities	Securities Pledged as Collateral
				Contract
Organization and Nature of Operations [Line Items]	'	'	'	'
Number of policies owned	601	612	459	452
Life insurance estimated fair value	$315,464	$302,961	'	$268,600
Life insurance policies with aggregate death benefit	$2,920,399	$2,954,890	'	$2,300,000
Revolving credit facility period	'	'	'	'15 years

Principles_of_Consolidation_an2

Principles of Consolidation and Basis of Presentation - Additional Information (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Feb. 28, 2014	Apr. 29, 2013	Mar. 31, 2014
In Thousands, unless otherwise specified	Contract	Contract	8.50% Senior Unsecured Convertible Notes Due 2019	8.50% Senior Unsecured Convertible Notes Due 2019	Revolving Credit Facility	Revolving Credit Facility
					Securities	Securities Pledged as Collateral
						Contract
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]	'	'	'	'	'	'
Number of policies owned	601	612	'	'	459	452
Life insurance policies with aggregate death benefit	$2,920,399	$2,954,890	'	'	'	$2,300,000
Life insurance estimated fair value	315,464	302,961	'	'	'	268,600
Debt instrument issued	'	'	$70,700	$70,700	'	'
Debt instrument, stated interest rate	'	'	8.50%	8.50%	'	'

Recovered_Sheet1

Recent Accounting pronouncements - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Accounting Policies [Line Items]	'	'
Provision for income taxes	$3,976,000	$40,000
ASU No. 2013-11	'	'
Accounting Policies [Line Items]	'	'
Provision for income taxes	3,700,000	'
Reduction in valuation allowance	2,600,000	'
Increase to additional paid-in-capital	$6,300,000	'

Consolidated_Assets_and_Consol

Consolidated Assets and Consolidated Liabilities of VIEs (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Primary Beneficiary Variable Interest Entity	'	'
Variable Interest Entity [Line Items]	'	'
Primary Beneficiary Consolidated VIEs, assets	$285,087	$264,596
Primary Beneficiary Consolidated VIEs, liabilities	134,219	124,188
Not Primary Beneficiary Variable Interest Entity	'	'
Variable Interest Entity [Line Items]	'	'
Not Primary Beneficiary Non-consolidated VIEs, total assets	2,384	2,378
Not Primary Beneficiary Non-consolidated VIEs, Maximum Exposure to Loss	$2,384	$2,378

Consolidation_of_Variable_Inte2

Consolidation of Variable Interest Entities - Additional Information (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Apr. 29, 2013	Mar. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	Contract	Contract	Revolving Credit Facility	Revolving Credit Facility	Bridge facility
			Securities	Securities Pledged as Collateral	Securities Pledged as Collateral
				Contract
Variable Interest Entity [Line Items]	'	'	'	'	'
Number of policies owned	601	612	459	452	'
Life insurance policies with aggregate death benefit	$2,920,399	$2,954,890	'	$2,300,000	'
Life insurance estimated fair value	$315,464	$302,961	'	$268,600	'
Term loan period	'	'	'	'	'18 months

Reconciliation_of_Actual_Basic

Reconciliation of Actual Basic and Diluted Earnings Per Share (Detail) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Numerator:	'		'
Net income (loss) from continuing operations	($3,318)	[1]	($5,336)	[2]
Net income (loss) income from discontinued operations	-19	[1]	1,005	[2]
Net income (loss)	($3,337)	[1]	($4,331)	[2]
Basic earnings per common share:	'		'
Basic income (loss) from continuing operations	($0.16)	[1]	($0.25)	[2]
Basic income (loss) from discontinued operations	'		$0.05	[2]
Basic income (loss) per share available to common shareholders	($0.16)	[1]	($0.20)	[2]
Diluted earnings per per common share:	'		'
Diluted income (loss) from continuing operations.	($0.16)	[1]	($0.25)	[2]
Diluted income (loss) from discontinued operations	'		$0.05	[2]
Diluted income (loss) per share available to common shareholders	($0.16)	[1]	($0.20)	[2]
Denominator:	'		'
Basic and diluted	21,344,112	[1]	21,206,121	[2]
[1]	The computation of diluted EPS does not include 816,116 options, 4,240,521 warrants, up to 10,464,941 shares of underlying common stock issuable upon conversion of the Notes and 17,286 shares of restricted stock for the three months ended March 31, 2014, as the effect of their inclusion would have been anti-dilutive.
[2]	The computation of diluted EPS did not include 485,695 options and 4,240,521 warrants for the three months ended March 31, 2013, as the effect of their inclusion would have been anti-dilutive.

Reconciliation_of_Actual_Basic1

Reconciliation of Actual Basic and Diluted Earnings Per Share (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Stock Option	'	'
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]	'	'
Antidilutive securities excluded from computation of diluted earnings per share	816,116	485,695
Warrant	'	'
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]	'	'
Antidilutive securities excluded from computation of diluted earnings per share	4,240,521	4,240,521
Restricted Stock	'	'
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]	'	'
Antidilutive securities excluded from computation of diluted earnings per share	17,286	'
Maximum | Convertible Debt Securities	'	'
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]	'	'
Antidilutive securities excluded from computation of diluted earnings per share	10,464,941	'

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)

3 Months Ended

1 Months Ended

1 Months Ended

12 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Feb. 11, 2011

Feb. 11, 2011

Feb. 11, 2011

Apr. 30, 2014

Mar. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Dec. 31, 2011

Mar. 31, 2014

Feb. 11, 2011

Mar. 31, 2014

Feb. 11, 2011

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Dec. 31, 2011

Apr. 30, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Including Overallotment Option

One-third

Subsequent Event

2014

2015

Omnibus Plan

Omnibus Plan

Omnibus Plan

Omnibus Plan

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

Unrestricted Stock

Unrestricted Stock

Stock Options

Stock Options

Maximum

Omnibus Plan

Omnibus Plan

Omnibus Plan

Omnibus Plan

Omnibus Plan

Omnibus Plan

Omnibus Plan

Omnibus Plan

Omnibus Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares of common stock reserved for future grant

'

'

'

'

'

'

'

'

'

'

'

1,200,000

1,200,000

'

'

'

'

'

'

'

'

'

'

Stock granted

'

'

'

'

'

'

'

'

'

'

'

'

'

'

20,793

17,286

'

17,286

3,507

13,759

13,759

'

'

Fair value of stock granted

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$120,138

'

'

'

$57,000

'

'

'

Options granted

'

'

'

'

'

'

'

'

'

545,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Options granted strike price

'

'

'

'

'

'

'

'

'

$6.94

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock-based compensation expense

370,000

191,000

'

'

'

'

'

'

'

'

'

'

'

'

'

30,000

0

'

'

'

'

340,000

191,000

Options outstanding and unexercised

816,116

'

831,282

'

'

'

'

'

'

'

'

816,116

'

'

'

'

'

'

'

'

'

'

'

Options outstanding and unexercised, weighted average price

$8.49

'

$8.46

'

'

'

'

'

'

'

$10.75

$8.49

'

'

'

'

'

'

'

'

'

'

'

Options outstanding and unexercised, expiry period

'

'

'

'

'

'

'

'

'

'

'7 years

'

'

'

'

'

'

'

'

'

'

'

'

Options outstanding and unexercised, vesting period

'

'

'

'

'

'

'

'

'

'

'3 years

'

'

'

'

'1 year

'

'

'

'

'

'

'

Remaining unamortized amounts

'

'

'

'

'

'

'

420,000

240,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Restricted stock, aggregate intrinsic value

'

'

'

'

'

'

'

'

'

'

'

'

'

99,000

'

'

'

'

'

'

'

'

'

Restricted stock, vesting period

'

'

'

'

'

'

'

'

'

'

'

'

'

'2014-06

'

'

'

'

'

'

'

'

'

Expected issuance of warrants for shares

'

'

'

'

4,240,521

'

2,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Exercise price of warrants

10.75

'

'

14.51

'

12.9

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Warrant expiration period

'

'

'

'7 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Warrant vesting period

'

'

'

'4 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Estimated Fair Value Of Warrants

$5,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock warrants term

'5 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common_Stock_Options_Activity_

Common Stock Options Activity (Detail) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Number of Shares	'	'
Options outstanding, Beginning Balance	831,282	'
Options granted	'	'
Options exercised	'	'
Options forfeited	-15,166	'
Options expired	'	'
Options outstanding, Ending Balance	816,116	831,282
Exercisable at end of period	493,428	'
Unvested at end of period	322,688	'
Weighted Average Price per Share	'	'
Options outstanding, Beginning Balance	$8.46	'
Options granted	'	'
Options exercised	'	'
Options forfeited	$6.94	'
Options expired	'	'
Options outstanding, Ending Balance	$8.49	$8.46
Exercisable at end of period	$9.50	'
Unvested at end of period	$6.94	'
Weighted Average Remaining Contractual Term	'	'
Options forfeited	'6 years 2 months 5 days	'
Options outstanding, Beginning Balance	'5 years 2 months 27 days	'5 years 6 months 4 days
Exercisable at end of period	'4 years 7 months 17 days	'
Unvested at end of period	'6 years 2 months 5 days	'
Aggregate Intrinsic Value	'	'
Options outstanding, Beginning Balance	'	'
Options granted	'	'
Options exercised	'	'
Options forfeited	'	'
Options expired	'	'
Options outstanding, Ending Balance	'	'
Exercisable at end of period	'	'
Unvested at end of period	'	'

Activity_of_Unvested_Restricte

Activity of Unvested Restricted Stock (Detail)	3 Months Ended
	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Common Unvested Shares outstanding, Beginning Balance	17,286
Granted	'
Vested	'
Forfeited	'
Common Unvested Shares outstanding, Ending Balance	17,286

Discontinued_Operations_Additi

Discontinued Operations - Additional Information (Detail) (Structured settlements, USD $)	1 Months Ended	3 Months Ended
In Millions, unless otherwise specified	Oct. 25, 2013	Dec. 31, 2013
Structured settlements	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Sale of structured settlement business	$12	'
Recognized a gain on structured settlement assets	'	$11.30

Operating_Results_of_Structure

Operating Results of Structured Settlement Business (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Mar. 31, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'		'
Total income (loss)	$75		$4,192
Total expenses	-94		-3,187
Income (loss) before income taxes	-19		1,005
Income tax expense	'		'
Net income (loss) from discontinued operations	($19)	[1]	$1,005	[2]
[1]	The computation of diluted EPS does not include 816,116 options, 4,240,521 warrants, up to 10,464,941 shares of underlying common stock issuable upon conversion of the Notes and 17,286 shares of restricted stock for the three months ended March 31, 2014, as the effect of their inclusion would have been anti-dilutive.
[2]	The computation of diluted EPS did not include 485,695 options and 4,240,521 warrants for the three months ended March 31, 2013, as the effect of their inclusion would have been anti-dilutive.

Investment_in_Life_Settlements2

Investment in Life Settlements (Life Insurance Policies) - Additional Information (Detail) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
	Contract	Contract
Life Insurance Premiums and Related Investment Income [Line Items]	'	'
Number of policies owned	601	612
Life insurance estimated fair value	$315,464	$302,961
Average life expectancy of insured	'11 years 4 months 24 days	'11 years 7 months 6 days
Estimated future premium payments	$1,415,759	'

Investments_in_Life_Settlement

Investments in Life Settlements (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Contract	Contract
Number of Life Settlement Contracts	'	'
0-1	'	'
2-Jan	'	'
3-Feb	5	6
4-Mar	8	10
5-Apr	11	8
Thereafter	577	588
Total	601	612
Fair Value	'	'
0-1	'	'
2-Jan	'	'
3-Feb	7,496	8,489
4-Mar	13,818	14,171
5-Apr	16,812	13,529
Thereafter	277,338	266,772
Total	315,464	302,961
Face Value	'	'
0-1	'	'
2-Jan	'	'
3-Feb	14,875	16,875
4-Mar	34,400	38,100
5-Apr	51,450	40,250
Thereafter	2,819,674	2,859,665
Total	$2,920,399	$2,954,890

Estimated_Premiums_to_be_Paid_

Estimated Premiums to be Paid (Detail) (USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified
Life Insurance Premiums and Related Investment Income [Line Items]	'
Remainder of 2014	$40,069
2015	52,957
2016	56,215
2017	62,849
2018	67,281
Thereafter	1,136,388
Estimated future premium payments	$1,415,759

Revolving_Credit_Facility_Addi

Revolving Credit Facility - Additional Information (Detail) (USD $)

3 Months Ended

1 Months Ended

3 Months Ended

1 Months Ended

1 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Apr. 29, 2013

Mar. 31, 2014

Mar. 31, 2014

Apr. 29, 2013

Apr. 29, 2013

Apr. 29, 2013

Apr. 29, 2013

Apr. 29, 2013

Apr. 29, 2013

Apr. 29, 2013

Apr. 29, 2013

Apr. 29, 2013

Contract

Contract

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Securities

Securities Pledged as Collateral

Floor Rate

Applicable Margin

Federal Funds Rate

Maintenance Costs

Accrued and Unpaid Interest

Other fees and expense

Policies pledged as collateral as determined by the lenders

Policies pledged as collateral excluding certain specified life insurance policies

White Eagle Asset Portfolio, LLC

Contract

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Revolving credit facility period

'

'

'

'

'

'15 years

'

'

'

'

'

'

'

'

'15 years

Revolving credit facility effective date

'

'

'

'

'

'

'

'

'

'

'

'

'

'

29-Apr-13

Revolving Credit facility, current borrowing capacity

'

'

'

$300,000,000

$145,300,000

'

'

'

'

'

'

'

'

'

$300,000,000

Percentage of remaining proceeds

'

'

'

100.00%

'

'

'

'

'

'

'

'

'

'

50.00%

Proceeds to be paid to White Eagle after payment of loan

'

'

'

'

'

'

'

'

'

'

'

'

'

'

76,100,000

Number of policies owned

601

'

612

459

'

452

'

'

'

'

'

'

'

'

'

Life insurance policies with aggregate death benefit

2,920,399,000

'

2,954,890,000

'

'

2,300,000,000

'

'

'

'

'

'

'

'

'

Life insurance estimated fair value

315,464,000

'

302,961,000

'

'

268,600,000

'

'

'

'

'

'

'

'

'

Line of credit borrowing base percentage

'

'

'

'

'

'

'

'

'

100.00%

100.00%

100.00%

75.00%

50.00%

'

Line of credit facility, maximum borrowing capacity

'

'

'

'

157,800,000

'

'

'

'

'

'

'

'

'

'

Line of credit facility, remaining borrowing capacity

'

'

'

'

3,100,000

'

'

'

'

'

'

'

'

'

'

Collateral pledge percentage for distributions to be altered

'

'

'

25.00%

'

'

'

'

'

'

'

'

'

'

'

Basis spread on variable rate

'

'

'

'

'

'

1.50%

4.00%

0.75%

'

'

'

'

'

'

Base rate

'

'

'

0.50%

'

'

'

'

'

'

'

'

'

'

'

Debt instrument effective rate

'

'

'

'

5.50%

'

'

'

'

'

'

'

'

'

'

Interest expense on the facility

2,801,000

103,000

'

'

1,800,000

'

'

'

'

'

'

'

'

'

'

Interest expense withheld from borrowings by lender

1,608,000

'

'

'

1,300,000

'

'

'

'

'

'

'

'

'

'

Interest paid

499,000

'

'

'

499,000

'

'

'

'

'

'

'

'

'

'

Credit agreement expiration date

'

'

'

28-Apr-28

'

'

'

'

'

'

'

'

'

'

'

Revolving Credit facility debt, at estimated fair value

133,952,000

'

123,847,000

'

133,952,000

'

'

'

'

'

'

'

'

'

'

Revolving credit facility debt, outstanding

'

'

'

'

$142,200,000

'

'

'

'

'

'

'

'

'

'

850_Senior_Unsecured_Convertib

8.50% Senior Unsecured Convertible Notes - Additional Information (Detail) (USD $)	3 Months Ended		1 Months Ended	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Feb. 28, 2014	Mar. 31, 2014	Feb. 28, 2014	Feb. 28, 2014	Feb. 28, 2014	Feb. 28, 2014	Feb. 28, 2014
			8.50% Senior Unsecured Convertible Notes Due 2019	8.50% Senior Unsecured Convertible Notes Due 2019	8.50% Senior Unsecured Convertible Notes Due 2019	8.50% Senior Unsecured Convertible Notes Due 2019	8.50% Senior Unsecured Convertible Notes Due 2019	8.50% Senior Unsecured Convertible Notes Due 2019	8.50% Senior Unsecured Convertible Notes Due 2019
			D		Issuable to a director, officer or "substantial security holder" of the Company or an affiliate of such person	Issuable to a substantial security holder	Bulldog Investors Llc	Indaba Capital Management Llc	Nantahala Capital Management Llc
			Director
Debt Instrument [Line Items]	'	'	'	'	'	'	'	'	'
Debt instrument issued	'	'	$70,700,000	$70,700,000	'	'	$9,243,000	$30,000,000	$14,500,000
Debt instrument, interest rate	'	'	8.50%	8.50%	'	'	'	'	'
Debt instrument, issuance date	'	'	21-Feb-14	'	'	'	'	'	'
Percentage of ownership interest owned by shareholders affiliated with entities who buy company's note	'	'	5.00%	'	'	'	'	'	'
Number of board of directors	'	'	2	'	'	'	'	'	'
Debt instrument, maturity date	'	'	'	15-Feb-19	'	'	'	'	'
Debt instrument, frequency of periodic payment	'	'	'	'Semi-annually in arrears on August 15 and February 15 of each year	'	'	'	'	'
Debt instrument, date of first required payment	'	'	'	15-Aug-14	'	'	'	'	'
Minimum percentage of outstanding common stock conversion which requires shareholders approval	'	'	19.99%	'	'	'	'	'	'
Debt instrument, convertible, conversion rate	'	'	147.929	'	'	'	'	'	'
Debt Instrument, Convertible, Conversion Price	'	'	$6.76	'	'	'	'	'	'
Debt instrument, redemption start date	'	'	'	15-Feb-17	'	'	'	'	'
Debt instrument, convertible, minimum percentage of common stock price	'	'	130.00%	'	'	'	'	'	'
Debt instrument, convertible, threshold trading days	'	'	20	'	'	'	'	'	'
Debt instrument, convertible, threshold consecutive trading days	'	'	'30 days	'	'	'	'	'	'
Debt instrument, redemption price, percentage	'	'	100.00%	'	'	'	'	'	'
Minimum percentage of common stock conversion require shareholder	'	'	'	'	1.00%	5.00%	'	'	'
Conversion derivative liability, at estimated fair value	18,963,000	'	16,900,000	19,000,000	'	'	'	'	'
Senior unsecured convertible notes, net of discount	54,092,000	'	'	54,092,000	'	'	'	'	'
Unamortized debt discount	'	'	'	16,700,000	'	'	'	'	'
Debt instrument origination cost	3,251,000	'	'	3,300,000	'	'	'	'	'
Interest expense of notes	'	'	'	967,000	'	'	'	'	'
Amortizing debt discounts	'	40,000	'	250,000	'	'	'	'	'
Debt issuance cost	1,330,000	'	'	49,000	'	'	'	'	'
Change in fair value of conversion derivative liability	($2,062,000)	'	'	($2,100,000)	'	'	'	'	'

Fair_Value_of_Conversion_Deriv

Fair Value of Conversion Derivative Liability (Detail) (8.50% Senior Unsecured Convertible Notes Due 2019, Conversion derivative liability)	3 Months Ended
	Mar. 31, 2014
8.50% Senior Unsecured Convertible Notes Due 2019 | Conversion derivative liability	'
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]	'
Expected Volatility	40.00%
Expected Term in Years	'4 years 10 months 24 days
Risk Free Rate	1.70%

Assets_Measured_at_Fair_Value_

Assets Measured at Fair Value on Recurring Basis (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of life insurance policies held	$315,464	$302,961
Structured settlement receivables	388	660	[1]
Assets, Fair Value Disclosure, Total	315,852	303,621
Fair Value, Inputs, Level 3	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Fair value of life insurance policies held	315,464	302,961
Structured settlement receivables	388	660
Assets, Fair Value Disclosure, Total	$315,852	$303,621
[1]	Derived from audited consolidated financial statements.

Liabilities_Measured_at_Fair_V

Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Revolving Credit Facility debt	$133,952	$123,847
Conversion derivative liability embedded in the Notes	18,963	'
Financial and Nonfinancial Liabilities, Fair Value Disclosure, Total	152,915	123,847
Fair Value, Inputs, Level 3	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Revolving Credit Facility debt	133,952	123,847
Conversion derivative liability embedded in the Notes	18,963	'
Financial and Nonfinancial Liabilities, Fair Value Disclosure, Total	$152,915	$123,847

Quantitative_Information_about

Quantitative Information about Level 3 Fair Value Measurements (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014		Dec. 31, 2013
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Investment in life settlements	$315,464		$302,961
Structured settlements receivables	388		660	[1]
Investment in life settlements	2,920,399		2,954,890
Revolving Credit Facility debt	133,952		123,847
Conversion derivative liability	18,963		'
Weighted average discount rate	19.05%		'
Structured settlements	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Structured settlements receivables	388		'
Weighted average discount rate	8.66%		'
Revolving Credit Facility	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Revolving Credit Facility debt	133,952		'
Discount rate	23.90%		'
Fair Value, Inputs, Level 3	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Investment in life settlements	315,464		302,961
Structured settlements receivables	388		660
Investment in life settlements	2,920,399		'
Revolving Credit Facility debt	133,952		123,847
Conversion derivative liability	18,963		'
Fair Value, Inputs, Level 3 | Non Premium Financed	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Investment in life settlements	38,350		'
Investment in life settlements	206,450		'
Fair Value, Inputs, Level 3 | Premium Financed	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Investment in life settlements	277,114		'
Investment in life settlements	$2,713,949		'
Fair Value, Inputs, Level 3 | Life Finance	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Valuation Technique (s)	'Discounted cash flow		'
Weighted average life expectancy valuation period	'11 years 4 months 24 days		'
Weighted average discount rate	19.05%		'
Fair Value, Inputs, Level 3 | Life Finance | Non Premium Financed	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Valuation Technique (s)	'Discounted cash flow		'
Weighted average life expectancy valuation period	'8 years 9 months 18 days		'
Fair Value, Inputs, Level 3 | Life Finance | Premium Financed	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Valuation Technique (s)	'Discounted cash flow		'
Weighted average life expectancy valuation period	'11 years 7 months 6 days		'
Fair Value, Inputs, Level 3 | Structured settlements	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Valuation Technique (s)	'Discounted cash flow		'
Weighted average discount rate	8.66%		'
Fair Value, Inputs, Level 3 | Revolving Credit Facility	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Valuation Technique (s)	'Discounted cash flow		'
Weighted average life expectancy valuation period	'10 years 10 months 24 days		'
Weighted average discount rate	23.90%	[2]	'
Fair Value, Inputs, Level 3 | Conversion derivative liability	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Valuation Technique (s)	'Black Scholes pricing model		'
Weighted average discount rate	1.70%		'
Volatility	40.00%		'
Minimum | Fair Value, Inputs, Level 3 | Life Finance | Non Premium Financed	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Discount rate	14.80%		'
Minimum | Fair Value, Inputs, Level 3 | Life Finance | Premium Financed	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Discount rate	16.80%		'
Maximum | Fair Value, Inputs, Level 3 | Life Finance | Non Premium Financed	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Discount rate	20.80%		'
Maximum | Fair Value, Inputs, Level 3 | Life Finance | Premium Financed	'		'
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'		'
Discount rate	26.80%		'
[1]	Derived from audited consolidated financial statements.
[2]	Actual

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)

3 Months Ended

12 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

1 Months Ended

Mar. 31, 2014

Dec. 31, 2012

Dec. 31, 2013

Mar. 31, 2013

Sep. 30, 2012

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Apr. 29, 2013

Mar. 31, 2014

Apr. 29, 2013

Sep. 30, 2012

Contract

Contract

Previously Premium Financed

Previously Premium Financed

Previously Premium Financed

Non-Premium Financed

Non-Premium Financed

Non-Premium Financed

Noninvestment grade

21st Services

Structured settlements

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Impaired life bearing

Contract

Minimum

Maximum

Contract

Minimum

Maximum

BasisPoint

Contract

Securities

White Eagle Asset Portfolio, LLC

Contract

Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Mortality rate

'

'

'

'

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

200.00%

Mortality rate Assumption

'

'The resulting mortality factor represents an indication as to the degree to which the given life can be considered more or less impaired than a standard life having similar characteristics (e.g. gender, age, smoking, etc.). For example, a standard insured (the average life for the given mortality table) would carry a mortality rating of 100%. A similar but impaired life bearing a mortality rating of 200% would be considered to have twice the chance of dying earlier than the standard life. The probability of mortality for an insured is then calculated by applying the blended life expectancy estimate to a mortality table. The mortality table is created based on the rates of death among groups categorized by gender, age, and smoking status. By measuring how many deaths occur during each year, the table allows for a calculation of the probability of death in a given year for each category of insured people. The probability of mortality for an insured is found by applying the mortality rating from the life expectancy assessment to the probability found in the actuarial table for the insuredbs age, sex and smoking status. Beginning in the quarter ended September 30, 2012, the Company began using a table developed by the U.S. Society of Actuaries known as the 2008 Valuation Basic Table, or the 2008 VBT. However, because the 2008 VBT table does not account for anticipated improvements in mortality in the insured population, the table was modified by outside consultants to reflect these expected mortality improvements. The Company believes that the change in mortality table does not materially impact the valuation of its life insurance policies and that its adoption of a modified 2008 VBT table is consistent with modified tables used by market participants and third party medical underwriters.

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Life expectancy, percentage

14.57%

'

'

13.00%

'

'

'

'

'

'

'

'

19.00%

'

'

'

'

'

Number of life insurance policies

601

'

612

'

'

558

'

'

43

'

'

19

'

17

459

'

'

'

Additional basis point risk premium

'

'

'

'

'

'

'

'

'

'

'

300

'

'

'

'

'

'

Life insurance estimated fair value

$315,464,000

'

$302,961,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Discount rates

'

'

'

'

'

'

16.80%

26.80%

'

14.80%

20.80%

'

'

'

'

23.90%

'

'

Weighted average discount rate

19.05%

'

'

'

'

'

'

'

'

'

'

'

'

8.66%

'

'

'

'

Settlements with estimated fair value

388,000

'

660,000

[1]

'

'

'

'

'

'

'

'

'

'

388,000

'

'

'

'

Percentage of remaining proceeds

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100.00%

'

50.00%

'

Proceeds to be paid to White Eagle after payment of loan

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

76,100,000

'

Revolving Credit facility debt, at estimated fair value

133,952,000

'

123,847,000

'

'

'

'

'

'

'

'

'

'

'

'

133,952,000

'

'

Revolving Credit Facility debt,outstanding

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$142,200,000

'

'

[1]

Derived from audited consolidated financial statements.

Changes_in_Life_Expectancy_Use

Changes in Life Expectancy Used to Estimate Fair Value (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Value	$315,464	$302,961
Change in Value	-360	'
+6 Life Expectancy Months Adjustment	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Value	263,774	'
Change in Value	-51,690	'
-6 Life Expectancy Months Adjustment	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Value	371,481	'
Change in Value	$56,017	'

Life_Insurance_Issuer_concentr

Life Insurance Issuer concentrations (Detail)	3 Months Ended
	Mar. 31, 2014
10% of total fair value of our investments in life settlements | Transamerica Occidental Life Insurance Company | Moody's, A1 Rating | Standard & Poor's, AA- Rating	'
Concentration Risk [Line Items]	'
Concentrations risk percentage	25.70%
10% of total fair value of our investments in life settlements | Lincoln National Life Insurance Company | Moody's, A1 Rating | Standard & Poor's, AA- Rating	'
Concentration Risk [Line Items]	'
Concentrations risk percentage	21.00%
10% of total fair value of our investments in life settlements | AXA Equitable Life Insurance Company | Moody's, Aa3 Rating | Standard & Poor's, A+ Rating	'
Concentration Risk [Line Items]	'
Concentrations risk percentage	10.10%
Life insurance issuer concentrations that exceed 10% of total death benefit | Transamerica Occidental Life Insurance Company | Moody's, A1 Rating | Standard & Poor's, AA- Rating	'
Concentration Risk [Line Items]	'
Concentrations risk percentage	20.50%
Life insurance issuer concentrations that exceed 10% of total death benefit | Lincoln National Life Insurance Company | Moody's, A1 Rating | Standard & Poor's, AA- Rating	'
Concentration Risk [Line Items]	'
Concentrations risk percentage	20.60%
Life insurance issuer concentrations that exceed 10% of total death benefit | AXA Equitable Life Insurance Company | Moody's, Aa3 Rating | Standard & Poor's, A+ Rating	'
Concentration Risk [Line Items]	'
Concentrations risk percentage	11.20%

Changes_in_Weighted_Average_Di

Changes in Weighted Average Discount Rate Used to Estimate Fair Value (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Weighted Average Rate	19.05%	'
Value	$315,464	$302,961
Change in Value	-360	'
.50% Decrease in Discount Rate	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Weighted Average Rate	18.55%	'
Value	324,713	'
Change in Value	9,249	'
.50% Increase in Discount Rate	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Weighted Average Rate	19.55%	'
Value	306,620	'
Change in Value	($8,844)	'

Changes_in_Life_Expectancy_Use1

Changes in Life Expectancy Used to Estimate Fair Value of Revolving Credit Facility (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified			Revolving Credit Facility	+6 Life Expectancy Months Adjustment	-6 Life Expectancy Months Adjustment
				Revolving Credit Facility	Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'
Value	$133,952	$123,847	$133,952	$114,880	$154,405
Change in Value	'	'	'	($19,072)	$20,453

Changes_in_Weighted_Average_Di1

Changes in Weighted Average Discount Rate Used to Estimate Fair Value of Revolving Credit Facility (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified			Revolving Credit Facility	.50% Decrease in Discount Rate	.50% Increase in Discount Rate
				Revolving Credit Facility	Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'
Discount rate	'	'	23.90%	23.40%	24.40%
Value	$133,952	$123,847	$133,952	$136,607	$131,390
Change in Value	'	'	'	$2,655	($2,562)

Changes_in_Fair_Value_for_All_

Changes in Fair Value for All Assets and Liabilities Using Material Level of Unobservable (Level 3) Inputs (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Life Finance	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Beginning Balance	$302,961	$113,441
Purchase of policies	'	'
Acquired in foreclosure	'	1,524
Change in fair value	13,956	-3,036
Matured/sold policies	-14,717	'
Matured policies	'	-1,160
Premiums paid	13,264	6,963
Transfers into level 3	'	'
Transfer out of level 3	'	'
Ending Balance	315,464	117,732
Changes in fair value included in earnings for the period relating to assets held at March 31, 2013	3,291	2,685
Revolving Credit Facility	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Beginning balance	123,847	'
Subsequent draws under the revolving credit facility	14,982	'
Payments on credit facility	-6,006	'
Change in fair value	1,129	'
Transfers into level 3	'	'
Transfer out of level 3	'	'
Ending balance	133,952	'
Changes in fair value included in earnings for the period relating to liabilities held at March 31, 2014	1,129	'
Conversion derivative liability	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Beginning balance	16,901	'
Change in fair value	2,062	'
Transfers into level 3	'	'
Transfer out of level 3	'	'
Ending balance	18,963	'
Changes in fair value included in earnings for the period relating to liabilities held at March 31, 2014	$2,062	'

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)	3 Months Ended			3 Months Ended						1 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Feb. 11, 2011	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2013	Apr. 18, 2013	Jul. 29, 2013
	Contract			Class Action	Derivative Actions	Derivative Actions	Pending Litigation	Pending Litigation	Pending Litigation	Pending Litigation
						Contributed by Directors and Officers Liability Insurance Carrier			Contract	Minimum
Commitments and Contingencies [Line Items]	'	'	'	'	'	'	'	'	'	'
Percentage of annual increase of base rent	5.00%	'	'	'	'	'	'	'	'	'
Lease expiration date	31-Oct-14	'	'	'	'	'	'	'	'	'
Rent expense under operating lease	$126,000	$126,000	'	'	'	'	'	'	'	'
Operating leases, remainder of year ended December 31, 2014	338,000	'	'	'	'	'	'	'	'	'
Indemnification expenses	459,000	627,000	'	'	'	'	'	'	'	'
Number of policies	39	'	'	'	'	'	'	'	29	'
US Government ongoing investigation for criminal conduct	8,000,000	'	'	'	'	'	'	'	'	'
Non-Prosecution Agreement terms description	'The Non-Prosecution Agreement has a term of three years until April 30, 2015, but the Company may petition the USAO to forego the final year of the Non-Prosecution Agreement, if the Company otherwise complies with all of its obligations under the Non-Prosecution Agreement.	'	'	'	'	'	'	'	'	'
Non-Prosecution Agreement terms	'3 years	'	'	'	'	'	'	'	'	'
Litigation-related fees	'	'	'	'	'	'	784,000	1,400,000	'	'
Payments for class action settlements	'	'	'	12,000,000	'	'	'	'	'	'
Insurance recoverable from the Company's D&O Carrier	'	'	'	11,000,000	'	1,500,000	'	'	'	'
Issuance of warrants shares	'	'	'	2,000,000	'	'	'	'	'	'
Common stock warrants term	'5 years	'	'	'5 years	'	'	'	'	'	'
Exercise price of warrants	10.75	'	14.51	10.75	'	'	'	'	'	'
Estimated Fair Value Of Warrants	5,400,000	'	'	5,400,000	'	'	'	'	'	'
Common stock issued for legal settlement	'	'	'	'	125,628	'	'	'	'	'
Compensatory damages sought in addition to an award of punitive damages	'	'	'	'	'	'	'	'	'	30,000,000
Litigation expense sanctioned by court on subsidiary Imperial Premium Finance (IPF)	$850,000	'	'	'	'	'	'	'	'	'

Stockholders_Equity_Additional

Stockholders' Equity - Additional Information (Detail) (USD $)	3 Months Ended		3 Months Ended			1 Months Ended	3 Months Ended	12 Months Ended		1 Months Ended	12 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Feb. 11, 2011	Feb. 11, 2011	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2011	Apr. 30, 2013	Dec. 31, 2013
			ASU No. 2013-11	Omnibus Plan	Omnibus Plan	Omnibus Plan	Omnibus Plan	Omnibus Plan	Omnibus Plan	Omnibus Plan	Omnibus Plan
						Restricted Stock	Restricted Stock	Restricted Stock	Restricted Stock	Unrestricted Stock	Unrestricted Stock
Stockholders Equity [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Shares of common stock reserved for future grant	'	'	'	1,200,000	1,200,000	'	'	'	'	'	'
Options Outstanding	816,116	831,282	'	816,116	'	'	'	'	'	'	'
Stock granted	'	'	'	'	'	20,793	17,286	17,286	3,507	13,759	13,759
Securities remaining for future issuance	'	'	'	349,332	'	'	'	'	'	'	'
Increase to additional paid-in-capital	'	'	$6.30	'	'	'	'	'	'	'	'

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Income Taxes [Line Items]	'	'
Annual effective tax rate	38.80%	'
Effective income tax rate reconciliation, prior year income taxes, percent	0.00%	'
Effective tax rate, valuation allowance for deferred tax assets	0.00%	'
Provision for income taxes	$3,976,000	$40,000
ASU No. 2013-11	'	'
Income Taxes [Line Items]	'	'
Provision for income taxes	3,700,000	'
Increase to additional paid-in-capital	$6,300,000	'