Emergent Capital (EMGC) 10-K 5 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Mar. 04, 2015	Jun. 30, 2014
Document Information [Line Items]
Document Type	10-K
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Trading Symbol	IFT
Entity Registrant Name	Imperial Holdings, Inc.
Entity Central Index Key	1494448
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		21,402,990
Entity Public Float			$122,368,416

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets
Cash and cash equivalents	$51,166	$14,722
Restricted cash		13,506
Prepaid expenses and other assets	1,502	1,331
Deposits-other	1,340	1,597
Deposits on purchase of life settlements	1,630
Structured settlement receivables, at estimated fair value	384	660
Structured settlement receivables at cost, net	597	797
Investment in life settlements, at estimated fair value	82,575	48,442
Fixed assets, net	355	74
Investment in affiliates	2,384	2,378
Deferred debt costs, net	3,936
Total assets	459,931	348,103
Liabilities
Accounts payable and accrued expenses	6,140	2,977
Other liabilities	1,256	21,221
Senior unsecured convertible notes, net of discount	55,881
Senior secured notes, net of discount	24,036
Revolving Credit Facility debt, at estimated fair value	145,831	123,847
Income taxes payable		6,295
Deferred tax liability	8,728
Total liabilities	244,828	154,681
Commitments and Contingencies
Stockholders' Equity
Common stock, $0.01 par value (80,000,000 authorized; 21,402,990 and 21,237,166 issued and outstanding as of December 31, 2014 and 2013, respectively)	214	212
Preferred stock $0.01 par value (40,000,000 authorized; 0 issued and outstanding as of December 31, 2014 and 2013)
Additional paid-in-capital	266,705	239,506
Accumulated deficit	-51,816	-46,296
Total stockholders' equity	215,103	193,422
Total liabilities and stockholders' equity	459,931	348,103
Primary Beneficiary Variable Interest Entity
Assets
Cash and cash equivalents	3,751	7,977
Investment in life settlements, at estimated fair value	306,311	254,519
Receivable for maturity of life settlements	4,000	2,100
Liabilities
Accounts payable and accrued expenses	423	341
Revolving Credit Facility debt, at estimated fair value	145,831	123,847
8.50% Senior Unsecured Convertible Notes Due 2019
Liabilities
Interest payable	2,272
12.875% Senior Secured Notes Due 2017
Liabilities
Interest payable	$261

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	21,402,990	21,237,166
Common stock, shares outstanding	21,402,990	21,237,166
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	40,000,000	40,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Income
Interest income	$136		$258		$2,014
Interest and dividends on investment securities available for sale			14		391
Origination fee income					500
(Loss) gain on life settlements, net	-426		-1,990		151
Change in fair value of life settlements (Notes 8 & 13)	44,128		88,686		-5,660
Servicing fee income			310		1,183
Gain on maturities of life settlements with subrogation rights, net					6,090
Other income	85		2,030		748
Total income	43,816		89,078		5,088
Expenses
Interest expense	16,245		13,657		1,255
Change in fair value of Revolving Credit Facility debt (Notes 10 & 13)	-5,472		-9,373
Loss on extinguishment of Bridge Facility			3,991
Change in fair value of conversion derivative liability (Notes 11 & 13)	6,759
Provision for losses on loans receivable					515
(Gain) loss on loan payoffs and settlements, net			-65		125
Amortization of deferred costs			7		1,867
Personnel costs	8,763		8,177		9,452
Legal fees	13,620		11,701		23,974
Professional fees	5,254		5,281		5,262
Insurance	1,667		1,953		2,330
Other selling, general and administrative expenses	2,006		1,887		2,366
Total expenses	48,842		37,216		47,146
(Loss) income from continuing operations before income taxes	-5,026		51,862		-42,058
Provision (benefit) for income taxes	125		39		-39
Net (loss) income from continuing operations	-5,151		51,823		-42,019
Discontinued Operations:
(Loss) income from discontinued operations, net of income taxes	-369		2,198		-2,615
Gain on disposal of discontinued operations, net of income taxes			11,311
Net (loss) income from discontinued operations	-369		13,509		-2,615
Net (loss) income	-5,520		65,332		-44,634
Basic (loss) earnings per common share
Continuing operations	($0.24)		$2.44		($1.98)
Discontinued operations	($0.02)		$0.64		($0.12)
Basic earnings (loss) per common share	($0.26)		$3.08		($2.10)
Diluted (loss) earnings per common share
Continuing operations	($0.24)	[1],[2],[3]	$2.44	[1],[2],[3]	($1.98)	[1],[2],[3]
Discontinued operations	($0.02)	[1],[2],[3]	$0.64	[1],[2],[3]	($0.12)	[1],[2],[3]
Diluted earnings (loss) per common share	($0.26)	[1],[2],[3]	$3.08	[1],[2],[3]	($2.10)	[1],[2],[3]
Weighted average shares outstanding:
Basic	21,354,567		21,216,487		21,205,747
Diluted	21,354,567	[1],[2],[3]	21,218,938	[1],[2],[3]	21,205,747	[1],[2],[3]
Continuing Operations
Income
Interest income	$29		$28		$1,685
[1]	The computation of diluted EPS did not include 807,949 options and 6,240,521 warrants, 41,060 shares of restricted stock, up to 10,464,941 shares of underlying common stock issuable upon conversion of the Convertible Notes and 323,500 performance shares for the year ended December 31, 2014, as the effect of their inclusion would have been anti-dilutive.
[2]	The computation of diluted EPS did not include 831,282 options and 4,240,521 warrants for the year ended December 31, 2013, as the effect of their inclusion would have been anti-dilutive. The computation of diluted EPS included 2,451 incremental shares of the 17,286 unvested restricted stock outstanding as of December 31, 2013.
[3]	The computation of diluted EPS did not include 487,314 options and 4,240,521 warrants for the year ended December 31, 2012, as the effect of their inclusion would have been anti-dilutive.

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Net (loss) income	($5,520)	$65,332	($44,634)
Other comprehensive income (loss), net of tax:
Unrealized income on investment securities available for sale			63
Reclassification adjustment for gains included in net income		3
Comprehensive (loss) income	($5,520)	$65,335	($44,571)

CONSOLIDATED_STATEMENTS_OF_STO

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
In Thousands, except Share data
Beginning Balance at Dec. 31, 2011	$170,907	$212	$237,755	($66,994)	($66)
Beginning Balance (in shares) at Dec. 31, 2011		21,202,614
Comprehensive income	-44,571			-44,634	63
Stock-based compensation	309		309
Restricted stock issued (in shares)		3,507
Ending Balance at Dec. 31, 2012	126,645	212	238,064	-111,628	-3
Ending Balance (in shares) at Dec. 31, 2012		21,206,121
Comprehensive income	65,335			65,332	3
Stock-based compensation	1,316		1,316
Restricted stock issued (in shares)		17,286
Restricted stock issued	69		69
Issuance of common stock (in shares)		13,759
Issuance of common stock	57		57
Ending Balance at Dec. 31, 2013	193,422	212	239,506	-46,296
Ending Balance (in shares) at Dec. 31, 2013		21,237,166
Comprehensive income	-5,520			-5,520
Stock-based compensation (in shares)		41,060
Stock-based compensation	956	1	955
Issuance of common stock (in shares)		125,628
Issuance of common stock	500	1	499
Retirement of common stock		-864
Reclassification of derivative liability, net of tax	14,069		14,069
Issuance of warrants	5,381		5,381
Pre-conversion tax adjustment	6,295		6,295
Ending Balance at Dec. 31, 2014	$215,103	$214	$266,705	($51,816)
Ending Balance (in shares) at Dec. 31, 2014		21,402,990

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities
Net (loss) income	($5,520)	$65,332	($44,634)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization	88	183	385
Revolving Credit Facility origination cost		10,340
Revolving Credit Facility financing cost and fees	6,716	2,028
Amortization of premiums and accretion of discounts on available for sale securities sale securities		21	962
Provision for losses on loans receivable			515
Stock-based compensation	956	1,442	309
(Gain) loss on loan payoffs and settlements, net		-65	125
Origination fee income			-500
Change in fair value of life settlements	-44,128	-88,686	5,660
Unrealized change in fair value of structured settlements	-32	-1,230	-1,823
Change in fair value of Revolving Credit Facility debt	-5,472	-9,373
Loss (gain) on life settlements	426	1,990	-151
Interest income on loans	-136	-258	-2,014
Amortization of deferred costs		7	1,867
Loss on extinguishment of Bridge Facility		3,991
Gain on sale and prepayment of investment securities available for sale		-22	-53
Net gain from business dispositions		-11,311
Change in value of warrants to be issued		2,299	3,082
Change in fair value of conversion derivative liability	6,759
Deferred income tax	-107	39	-39
Change in assets and liabilities:
Restricted cash	13,506	-13,506
Certificate of deposit-restricted			895
Deposits-other	257	1,258	-2,094
Investment in affiliates	-6	-165	-1,171
Structured settlement receivables	614	3,124	12,827
Prepaid expenses and other assets	-153	12,848	-10,833
Deferred costs	-739
Accounts payable and accrued expenses	3,244	-2,938	-9,730
Other liabilities	-14,178	-1,874	13,435
Interest receivable		95	343
Interest payable	2,533		-5,505
Net cash used in operating activities	-32,899	-24,431	-38,142
Cash flows from investing activities
Purchase of fixed assets, net of disposals	-256	-15	-21
Capital lease asset	-8
Purchase of investment securities available for sale			-35,492
Proceeds from sale and prepayments of investment securities available for sale		12,111	79,781
Premiums paid on investments in life settlements	-55,458	-65,121	-27,804
Purchases of investments in life settlements	-16,296	-7,000	-130
Proceeds from sale of investments in life settlements, net	4,031	5,780	5,626
Proceeds from maturity of investments in life settlements	23,600	12,039
Proceeds from surrender of investment in life settlement		1,049
Proceeds from loan payoffs and lender protection insurance claims received in advance		691	26,676
Deposit on purchase of investment in life settlement	-1,630
Net proceeds associated with business disposition		11,422
Net cash (used in) provided by investing activities	-46,017	-29,044	48,636
Cash flows from financing activities
Revolving Credit and Bridge Facility origination cost		-6,731
Repayment of borrowings under credit facilities			-19,277
Restricted cash		1,162	-471
Repayment of borrowings under Bridge Facility	-29,777	-45,000
Borrowings from Revolving Credit Facility	50,518	78,342
Borrowings from Bridge Facility		41,400
Proceeds from senior unsecured convertible notes, net	67,893
Proceeds from senior secured notes, net	22,500
Net cash provided by (used in) by financing activities	111,134	69,173	-19,748
Net increase (decrease) in cash and cash equivalents	32,218	15,698	-9,254
Cash and cash equivalents, at beginning of the year	22,699	7,001	16,255
Cash and cash equivalents, at end of the year	54,917	22,699	7,001
Supplemental disclosures of cash flow information:
Cash paid for interest during the period	5,414	1,270	6,746
Supplemental disclosures of non-cash investing activities:
Investment in life settlements acquired in foreclosure		3,168	5,724
Supplemental disclosures of non-cash financing activities:
Purchase of policies through release of subrogation claim paid by lender		48,500
Credit facility origination costs paid to lender		4,000
Interest payment and fees withheld from borrowings by lender	6,716	2,378
Reclassification of derivative liability, net of tax	14,069
Issuance of warrants and common stock in connection with settlement of class action litigation	5,881
Pre-conversion tax adjustment	6,295
8.50% Senior Unsecured Convertible Notes Due 2019
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Amortization of discount and deferred cost for notes	2,371
Change in fair value of conversion derivative liability	6,800
12.875% Senior Secured Notes Due 2017
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Revolving Credit Facility origination cost	66
Amortization of discount and deferred cost for notes	$102

ORGANIZATION_AND_DESCRIPTION_O

ORGANIZATION AND DESCRIPTION OF BUSINESS ACTIVITIES	12 Months Ended
	Dec. 31, 2014
ORGANIZATION AND DESCRIPTION OF BUSINESS ACTIVITIES	NOTE 1—ORGANIZATION AND DESCRIPTION OF BUSINESS ACTIVITIES
	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, through its subsidiaries, Imperial owns a portfolio of 607 life insurance policies, also referred to as life settlements, with a fair value of $388.9 million and an aggregate death benefit of approximately $2.9 billion at December 31, 2014. The Company primarily earns income on these policies from changes in their fair value and through death benefits. 450 of these policies, with an aggregate death benefit of approximately $2.3 billion, are pledged under a $300.0 million, 15-year revolving credit agreement (the “Revolving Credit Facility”) entered into by the Company’s indirect subsidiary, White Eagle Asset Portfolio, LP (“White Eagle”). The majority of the Company’s other assets, including the 157 policies that were not pledged as collateral under the Revolving Credit Facility, with an aggregate death benefit of approximately $679.2 million and an estimated fair value of approximately $82.6 million at December 31, 2014 are pledged as collateral under an indenture governing 12.875% Senior Secured Notes issued by the Company (the “Secured Notes”).
	Discontinued Operations
	On October 25, 2013, the Company sold substantially all of the assets comprising its structured settlement business to Majestic Opco L.L.C for $12.0 million pursuant to an Asset Purchase Agreement.
	As a result, the Company has discontinued segment reporting and classified its operating results of the structured settlement business, net of income taxes, as discontinued operations. The accompanying consolidated balance sheets of the Company as of December 31, 2014 and 2013, and the related consolidated statements of operations for each of the three years in the period ended December 31, 2014, and the related notes to the consolidated financial statements have been retrospectively revised to reflect the classification of our structured settlement business operating results, net of tax, as discontinued operations. See Note 7, “Discontinued Operations,” for further information. Unless otherwise noted, the following notes refer to the Company’s continuing operations.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Principles of Consolidation
	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 which is accounted for using the cost method of accounting. 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 services performed by subsidiaries in connection with the Revolving Credit Facility. Notwithstanding consolidation, White Eagle is the owner of 450 policies, with an aggregate death benefit of approximately $2.3 billion and an estimated fair value of approximately $306.3 million at December 31, 2014.
	Ownership of Life Insurance Policies
	In the ordinary course of our legacy premium finance business, a large portion of our borrowers defaulted by not paying off their loans and relinquished ownership of their life insurance policies to us in exchange for our release of the obligation to pay amounts due. We also buy life insurance policies in the secondary and tertiary markets. We account for life insurance policies that we own as investments in life settlements (life insurance policies) in accordance with ASC 325-30, Investments in Insurance Contracts, which requires us to either elect the investment method or the fair value method. The election is made on an instrument-by-instrument basis and is irrevocable. We have elected to account for these life insurance policies as investments using the fair value method.
	We initially record investments in life settlements at the transaction price. For policies acquired upon relinquishment by our borrowers, we determined the transaction price based on fair value of the acquired policies at the date of relinquishment. The difference between the net carrying value of the loan and the transaction price is recorded as a gain (loss) on loan payoffs and settlement. For policies acquired for cash, the transaction price is the amount paid.
	Valuation of Insurance Policies
	Our valuation of insurance policies is a critical component of our estimate of the fair value of our investments in life settlements (life insurance policies). We currently use 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 Company’s estimate of the life expectancy of the insured and the discount rate. See Note 13, “Fair Value Measurements.”
	Fair Value Measurement Guidance
	We follow ASC 820, Fair Value Measurements and Disclosures, which defines fair value as an exit price representing the amount that would be received if an asset were sold or that would be 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. As a basis for considering such assumptions, the guidance establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. Level 1 relates to quoted prices in active markets for identical assets or liabilities. Level 2 relates to observable inputs other than quoted prices included in Level 1. Level 3 relates to unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Our investments in life insurance policies, structured settlements and Revolving Credit Facility debt are considered Level 3 as there is currently no active market where we are able to observe quoted prices for identical assets/liabilities and our valuation model incorporates significant inputs that are not observable. See Note 13, “Fair Value Measurements.”
	Fair Value Option
	We have elected to account for the debt under the Revolving Credit Facility, which includes its interest in policy proceeds to the lender, using the fair value method. The fair value of the debt is the estimated amount that would have to be paid 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.
	In February 2014, the Company issued $70.7 million in aggregate principal amount of 8.50% Senior Unsecured Convertible Notes due 2019 (the “Convertible Notes”). The Company determined that an embedded conversion option existed in the Convertible Notes, prior to June 5, 2014, that was required to be separately accounted for as a derivative under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging. On June 5, 2014, the Company obtained shareholder approval to issue shares of common stock upon conversion of the Convertible Notes in an amount that exceeded the New York Stock Exchange limits for issuances without shareholder approval. In accordance with ASC 815, the Company reclassified the conversion derivative liability to stockholders’ equity along with unamortized transaction costs proportionate to the allocation of the initial debt discount and the principal amount of the Notes. In subsequent reporting periods, the Convertible Notes will continue to be recorded at accreted value up to the par value of the Notes at maturity. The debt discount will be amortized into interest expense using the interest method, in an aggregate amount equal to the amount of the conversion derivative liability reclassified into equity along with any unamortized transaction costs. See Note 11, “8.50% Senior Unsecured Convertible Notes.”
	Income Recognition from Continuing Operations
	Our primary source of income from continuing operations are in the form of changes in fair value of life settlements and gains on life settlements, net. Our income recognition policies for this source of income is as follows:
		•	Changes in Fair Value of Life Settlements—When the Company acquires certain life insurance policies we initially record these investments at the transaction price, which is the fair value of the policy for those acquired upon relinquishment or the amount paid for policies acquired for cash. The fair value of the investment in insurance policies is evaluated at the end of each reporting period. Changes in the fair value of the investment based on evaluations are recorded as changes in fair value of life settlements in our consolidated statement of operations. The fair value is determined on a discounted cash flow basis that incorporates current life expectancy assumptions. 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 recognizes income from life settlement maturities upon receipt of a death notice or verified obituary of the insured. This income is the difference between the death benefits and fair values of the policy at the time of maturity.
		•	Gains on Life Settlements, Net—The Company recognizes gains from the sale of life settlement contracts that the Company owns upon the signed sale agreement and/or filing of ownership forms and funds transferred to escrow.
	Income Recognition from Discontinued Operations
	Our primary source of income from discontinued operations are in the form of realized gains on sales of structured settlements.
	Realized Gains on Sales of Structured Settlements—Realized gains on sales of structured settlements are recorded when the structured settlements have been transferred to a third party and we no longer have continuing involvement, in accordance with ASC 860, Transfers and Servicing.
	Income Taxes
	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 exists, 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. The Company adopted ASU 2013-11 effective on January 1, 2014, which required the Company to reclassify a $6.3 million current liability for unrecognized tax benefits to deferred taxes. 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 year ended December 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 December 31, 2014.
	Cash and Cash Equivalents
	Cash and cash equivalents include cash on hand and all highly liquid instruments purchased with an original maturity of three months or less. The Company maintains the majority of its cash in several operating accounts with two commercial bank. Balances on deposit are insured by the Federal Deposit Insurance Corporation (“FDIC”). However, from time to time, the Company’s balances may exceed the FDIC insurable amount at its bank.
	Deferred Debt Costs
	Deferred debt costs include costs incurred in connection with acquiring and maintaining debt arrangements. These costs are amortized over the life of the related debt instrument using the effective interest method and are classified as interest expense in the accompanying consolidated statement of operations. These deferred costs are related to the Company’s Convertible Notes and Secured Notes. The Company did not recognize any deferred cost on its Revolving Credit Facility given all costs were expensed due to electing the fair value option in valuing the Revolving Credit Facility.
	Stock-Based Compensation
	We have adopted ASC 718, Compensation—Stock Compensation. ASC 718 addresses accounting for share-based awards, including stock options, restricted stock, performance shares and warrants, with compensation expense measured using fair value and recorded over the requisite service or performance period of the award. The fair value of equity instruments awarded will be determined based on a valuation using an option pricing model that takes into account various assumptions that are subjective. Key assumptions used in the valuation will include the expected term of the equity award taking into account both the contractual term of the award, the effects of expected exercise and post-vesting termination behavior, expected volatility, expected dividends and the risk-free interest rate for the expected term of the award.
	Gain on Sale of Life Settlements
	Gain on sale of life settlements includes gain from the Company-owned life settlements.
	Restricted Cash
	At December 31, 2013, restricted cash includes $12.5 million received from the Company’s D&O Carrier and $1.0 million which was contributed by the Company. Restricted cash in respect of the final settlement of the class action and derivative litigation and related matters was released from escrow and paid out in the first quarter of 2014.
	Earnings Per Share
	The Company computes net income per share in accordance with ASC 260, Earnings Per Share. Under the provisions of ASC 260, basic net income per share is computed by dividing the net income available to common shareholders by the weighted average common shares outstanding during the period. Diluted net income per share adjusts basic net income per share for the effects of stock options, warrants and restricted stock awards only in periods in which such effect is dilutive. ASC 260 also requires the Company to present basic and diluted earnings per share information separately for each class of equity instruments that participate in any income distribution with primary equity instruments.
	Held-for-sale and discontinued operations
	The Company reports a business as held-for-sale when management has approved or received approval to sell the business and is committed to a formal plan, the business is available for immediate sale, the business is being actively marketed, the sale is anticipated to occur during the ensuing year and certain other specified criteria are met. A business classified as held-for-sale is recorded at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the business exceeds its estimated fair value, a loss is recognized. Depreciation is not recorded on assets of a business classified as held-for-sale. Assets and liabilities related to a business classified as held-for-sale are segregated in the Consolidated Balance Sheet and major classes are separately disclosed in the notes to the Consolidated Financial Statements commencing in the period in which the business is classified as held-for-sale. The Company reports the results of operations of a business as discontinued operations if the business is classified as held-for-sale, the operations and cash flows of the business have been or will be eliminated from the ongoing operations of the Company as a result of a disposal transaction and the Company will not have any significant continuing involvement in the operations of the business after the disposal transaction. The results of discontinued operations are reported in Discontinued Operations in the Consolidated Statement of Operations for current and prior periods commencing in the period in which the business meets the criteria of a discontinued operation, and include any gain or loss recognized on closing or adjustment of the carrying amount to fair value less cost to sell (see Note 7, “Discontinued Operations”).
	Foreign Currency
	The Company owns certain foreign subsidiaries formed under the laws of Ireland and Bermuda. These foreign subsidiaries utilize the U.S. dollar as their functional currency. Any gains and losses resulting from foreign currency transactions (transactions denominated in a currency other than the subsidiaries’ functional currency) are included in income. These gains and losses are immaterial to the Company’s financial statements.
	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, the valuation of equity awards and the valuation of the conversion derivative liability formerly embedded within the Company’s Senior Unsecured Convertible Notes.
	Risks and Uncertainties
	In the normal course of business, the Company encounters economic, legal and longevity risk. There are two main components of economic risk that could potentially impact the Company: market risk and concentration of credit risk. Market risk for the Company includes interest rate risk. Market risk also reflects the risk of declines in valuation of the Company’s investments, including declines caused by the selection of increased discount rates associated with the Company’s fair value model for investments in life settlements. It is reasonably possible that future changes to estimates involved in valuing life settlements could change and result in material effects to the future financial statements. Concentration of credit risk includes the risk that an insurance carrier who has issued life insurance policies held by the Company in its portfolio does not remit the amount due under those policies upon policy maturities due to the deteriorating financial condition of the carrier or otherwise. Legal risk includes the risk that statutes define or courts interpret insurable interest in a manner adverse to the Company’s ownership rights in its portfolio of life insurance policies and the risk that courts allow insurance carriers to retain premiums paid by the Company in respect of insurance policies that have been successfully rescinded or contested. Longevity risk refers to the risk that the Company does not experience the mortalities of insureds in its portfolio of life insurance policies that are anticipated to occur on an actuarial basis in a timely manner, which would result in the Company expending additional amounts for the payment of premiums.
	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 exists, 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. The Company adopted ASU 2013-11 effective on January 1, 2014, which required the Company to reclassify a $6.3 million current liability for unrecognized tax benefits to deferred taxes. 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 year ended December 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 in 2014.

CONSOLIDATION_OF_VARIABLE_INTE

CONSOLIDATION OF VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2014
CONSOLIDATION OF VARIABLE INTEREST ENTITIES	NOTE 3—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 December 31, 2014 and 2013, 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
						Total		Maximum Exposure
		Assets		Liabilities		Assets		To Loss
	31-Dec-14	$	314,062	$	146,254	$	2,384	$	2,384
	31-Dec-13	$	264,596	$	124,188	$	2,378	$	2,378
	As of December 31, 2014, 450 life insurance policies owned by White Eagle with an aggregate death benefit of approximately $2.3 billion and an estimated fair value of approximately $306.3 million were pledged as collateral under the Revolving Credit Facility. In accordance with Accounting Standards Codification (“ASC”) 810, Consolidation, the Company consolidated White Eagle in its financial statements for the years ended December 31, 2014 and 2013.

EARNINGS_PER_SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2014
EARNINGS PER SHARE	NOTE 4—EARNINGS PER SHARE
	As of December 31, 2014, 2013 and 2012, there were 21,402,990, 21,237,166 and 21,206,121 issued and outstanding shares, respectively.
	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.
	The following tables reconcile actual basic and diluted earnings per share for the years ended December 31, 2014, 2013 and 2012 (in thousands except per share data).
			2014			2013		2012
	Loss per share:
	Numerator:
	Net (loss) income from continuing operations		$	(5,151	)	$	51,823	$	(42,019	)
	Net (loss) income from discontinued operations			(369	)		13,509		(2,615	)
	Net (loss) income		$	(5,520	)	$	65,332	$	(44,634	)
	Basic (loss) income per common share:
	Basic (loss) income per share from continuing operations		$	(0.24	)	$	2.44	$	(1.98	)
	Basic (loss) income per share from discontinued operations		$	(0.02	)	$	0.64		(0.12	)
	Basic (loss) income per share available to common shareholders		$	(0.26	)	$	3.08	$	(2.10	)
	Diluted (loss) income per common share:
	Diluted (loss) income per share from continuing operations(1)(2)(3)		$	(0.24	)	$	2.44	$	(1.98	)
	Diluted (loss) income per share from discontinued operations(1)(2)(3)			(0.02	)		0.64		(0.12	)
	Diluted (loss) income per share available to common shareholders(1)(2)(3)		$	(0.26	)	$	3.08	$	(2.10	)
	Denominator:
	Basic			21,354,567			21,216,487		21,205,747
	Add: Restricted stock			—			2,451		—
	Diluted(1)(2)(3)			21,354,567			21,218,938		21,205,747
	-1	The computation of diluted EPS did not include 807,949 options and 6,240,521 warrants, 41,060 shares of restricted stock, up to 10,464,941 shares of underlying common stock issuable upon conversion of the Convertible Notes and 323,500 performance shares for the year ended December 31, 2014, as the effect of their inclusion would have been anti-dilutive.
	-2	The computation of diluted EPS did not include 831,282 options and 4,240,521 warrants for the year ended December 31, 2013, as the effect of their inclusion would have been anti-dilutive. The computation of diluted EPS included 2,451 incremental shares of the 17,286 unvested restricted stock outstanding as of December 31, 2013.
	-3	The computation of diluted EPS did not include 487,314 options and 4,240,521 warrants for the year ended December 31, 2012, as the effect of their inclusion would have been anti-dilutive.

GAIN_ON_MATURITIES_OF_LIFE_SET

GAIN ON MATURITIES OF LIFE SETTLEMENTS WITH SUBROGATION RIGHTS	12 Months Ended
	Dec. 31, 2014
GAIN ON MATURITIES OF LIFE SETTLEMENTS WITH SUBROGATION RIGHTS	NOTE 5—GAIN ON MATURITIES OF LIFE SETTLEMENTS WITH SUBROGATION RIGHTS
	In prior periods, the Company experienced maturities in respect of policies that were subject to subrogation claims of the lender protection insurance coverage provider under the Company’s legacy premium finance loan program. These maturities were accounted for as contingent gains in accordance with ASC 450, Contingencies and the Company recognized gains only when all contingencies were resolved. Upon the execution of the Termination Agreement, the lender protection insurance coverage provider released any and all subrogation claims and related salvage rights in the life insurance policies that had been characterized as “Life Settlements with Subrogation rights, net.” As a result of the Termination Agreement described in Note 9, the Company will no longer have any gains on maturities of life settlements with subrogation rights, net. During the year ended December 31, 2012, the Company reported income of $6.1 million net of subrogation expense associated with these maturities. See Note 9, “Termination Agreement.”

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2014
STOCK-BASED COMPENSATION	NOTE 6—STOCK-BASED COMPENSATION
	In 2011, the Company established the Imperial Holdings 2011 Omnibus Incentive Plan (the “Omnibus Plan”) 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 for an aggregate of 1,200,000 shares of common stock to be reserved for issuance under the Omnibus Plan, subject to adjustment as provided in the Omnibus Plan. 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.
	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 $765,000 and $1.3 million in stock-based compensation expense relating to stock options it granted under the Omnibus Plan during the years ended December 31, 2014 and 2013, respectively. The Company incurred additional stock-based compensation expense of approximately $191,000 and $69,000 relating to restricted stock granted to its board of directors during the years ended December 31, 2014 and 2013, respectively. During 2014, the Company awarded 323,500 target performance shares for restricted common stock to its directors and certain employees, of which 150,000 shares are subject to shareholder approval of an amendment to the Omnibus Plan at the Company’s 2015 annual meeting. The issuance of the performance shares is contingent on the Company’s financial performance, as well as the performance of the Company’s common stock through June 30, 2016, with the actual shares to be issued ranging between 0 – 150% of the target performance shares. The Company will evaluate on a quarterly basis whether it is probable that the Company’s financial performance conditions will be achieved. At December 31, 2014, the Company determined that it was not probable that the performance conditions would be achieved and as a result, no related expense was recognized for the year ended December 31, 2014. Once issued, the performance shares will be subject to a one year vesting period from the date of issuance.
	Options
	As of December 31, 2014, options to purchase 807,949 shares of common stock were outstanding and unexercised under the Omnibus Plan at a weighted average exercise price of $8.50 per share. The Company has used the Black-Scholes model to calculate fair values of options awarded. This model requires assumptions as to expected volatility, dividends, terms, and risk free rates. Assumptions used for the periods covered herein, are outlined in the table below:
		Year Ended
		December 31, 2013
	Expected Volatility		65.5	%
	Expected Dividend		0	%
	Expected Term in Years		4.25
	Risk Free Rate		0.75	%
	The following table presents the activity of the Company’s outstanding stock options of common stock for the year ended December 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		(4,340	)		6.94		—		—
	Options expired		(18,993	)		7.04		5.37		—
	Options outstanding, December 31, 2014		807,949		$	8.5		4.48	$	—
	Exercisable at December 31, 2014		650,913			8.88		4.25		—
	Unvested at December 31, 2014		157,036		$	6.94		5.43	$	—
	As of December 31, 2014, all outstanding stock options had an exercise price above the fair market value of the common stock on that date.
	During the year ended December 31, 2014 and 2013, the Company recognized expense of $765,000 and $1.3 million, respectively related to these options. The remaining unamortized amounts of approximately $233,000 will be expensed during 2015.
	Restricted Stock
	17,286 shares of restricted stock granted to our directors under the Omnibus Plan vested during the year ended December 31, 2013. The fair value of the vested 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 $52,000 in stock based compensation related to the 17,286 shares of restricted stock during the year ended December 31, 2014.
	During the year ended December 31, 2014, the Company granted 41,060 shares of restricted stock to its directors under the Omnibus Plan 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 $242,233 based on the closing price of the Company’s shares on the day prior to the grant date. The Company incurred additional stock-based compensation expense of approximately $139,000 related to these 41,060 shares of restricted stock during the year ended December 31, 2014.
	The following table presents the activity of the Company’s unvested restricted stock common shares for the year ended December 31, 2014:
	Common Unvested Shares	Number of
		Shares
	Outstanding January 1, 2014		17,286
	Granted		41,060
	Vested		(17,286	)
	Forfeited		—
	Outstanding December 31, 2014		41,060
	The aggregate intrinsic value of these awards is $268,000 and the remaining weighted average life of these awards is .43 years as of December 31, 2014.
	Performance Shares
	During 2014, the Company awarded 323,500 target performance shares for restricted common stock to its directors and certain employees, of which 150,000 shares are subject to shareholder approval of an amendment to the Omnibus Plan at the Company’s 2015 annual meeting. The issuance of the performance shares is contingent on the Company’s financial performance, as well as the performance of the Company’s common stock through June 30, 2016, with the actual shares to be issued ranging between 0 – 150% of the target performance shares. At December 31, 2014, the Company determined that it was not probable that the performance conditions would be achieved and no related expense was recognized for the year ended December 31, 2014. Once issued, the performance shares will be subject to a one year vesting period from the date of issuance.
	The following table presents the activity of the Company’s performance share awards for the year ended December 31, 2014:
	Performance Shares	Number of
		Shares
	Outstanding January 1, 2014		—
	Awarded		323,500
	Vested		—
	Forfeited		—
	Outstanding December 31, 2014		323,500
	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. The warrants will expire seven years after the date of issuance and the exercisability of the warrant will vest ratably over four years. At December 31, 2014, 3,180,391 warrants were exercisable with a weighted average exercise price of $14.51.
	In connection with a settlement of class action litigation arising in connection with the USAO Investigation, 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 as of the measurement date of such warrants was $5.4 million, which is included in stockholders’ equity. The warrants were distributed in October 2014 and have a five-year term from the date they are distributed to the class participants with an exercise price of $10.75. The Company is obligated to file a registration statement to register the shares underlying the warrants with the SEC if shares of the Company’s common stock have an average daily trading closing price of at least $8.50 per share for a 45 day period. The warrants will be exercisable upon effectiveness of the registration statement.

DISCONTINUED_OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
	Dec. 31, 2014
DISCONTINUED OPERATIONS	NOTE 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:
		Year Ended December 31,
		2014			2013			2012
		(in thousands)
	Total income	$	192		$	11,331		$	13,995
	Total expenses		(793	)		(9,133	)		(16,610	)
	Income (loss) before income taxes		(601	)		2,198			(2,615	)
	Income tax benefit		232			—			—
	Income (loss) from discontinued operations, net of income taxes	$	(369	)	$	2,198		$	(2,615	)
	Gain on disposal of discontinued operations, net of income taxes		—			11,311			—
	Net income (loss) from discontinued operations	$	(369	)	$	13,509		$	(2,615	)

INVESTMENT_IN_LIFE_SETTLEMENTS

INVESTMENT IN LIFE SETTLEMENTS (LIFE INSURANCE POLICIES)	12 Months Ended
	Dec. 31, 2014
INVESTMENT IN LIFE SETTLEMENTS (LIFE INSURANCE POLICIES)	NOTE 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 and 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 December 31, 2014 and 2013, the Company owned 607 and 612 policies, respectively, with an aggregate estimated fair value of investments in life settlements of $388.9 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 December 31, 2014 was 10.7 years. The following table describes the Company’s investments in life settlements as of December 31, 2014 (dollars in thousands):
	Remaining Life Expectancy (In Years)	Number of		Fair		Face
		Life Settlement		Value		Value
		Contracts
	0-1		—	$	—	$	—
	2-Jan		4		9,227		12,728
	3-Feb		10		23,202		45,852
	4-Mar		16		29,531		67,735
	5-Apr		19		23,012		65,614
	Thereafter		558		303,914		2,739,137
	Total		607	$	388,886	$	2,931,066
	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		Face
		Life Settlement		Value		Value
		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
	Premiums to be paid for each of the five succeeding fiscal years to keep the life insurance policies in force as of December 31, 2014, are as follows (in thousands):
	2015		56,846
	2016		60,394
	2017		66,679
	2018		70,583
	2019		78,426
	Thereafter		1,086,849
		$	1,419,777
	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.

TERMINATION_AGREEMENT

TERMINATION AGREEMENT	12 Months Ended
	Dec. 31, 2014
TERMINATION AGREEMENT	NOTE 9— TERMINATION AGREEMENT
	On April 30, 2013, the Company and certain of its subsidiaries (together, the “Imperial Parties”) entered into a Master Termination Agreement and Release (the “Termination Agreement”) with CTL Holdings, LLC (“CTL” and together with the Imperial Parties, the “LPIC Parties”) and Lexington Insurance Company (the “LPIC Provider”). Under the Termination Agreement, the LPIC Parties made a payment of $48.5 million to the LPIC Provider (the “Release Payment”) and the LPIC Provider and the LPIC Parties provided full releases to each other in respect of the lender protection insurance coverage issued by the LPIC Provider and the claims paid by the LPIC Provider in respect of that coverage. With the effectiveness of the Termination Agreement, the LPIC Provider released any and all subrogation claims and related salvage rights in 323 life insurance policies with an aggregate death benefit of approximately $1.6 billion that had previously been kept off-balance sheet as contingent assets for financial reporting purposes in prior periods and that had historically been characterized as “Life Settlements with Subrogation rights, net.”
	On April 30, 2013, OLIPP III, LLC, a subsidiary of the Company purchased all of the membership interests in CTL from Monte Carlo Securities, Ltd. in exchange for $7.0 million and for assuming the amount of the Release Payment allocated to CTL. Prior to this acquisition, the LPIC Provider maintained subrogation rights in the 93 life insurance policies owned by CTL with an aggregate death benefit of approximately $340.0 million. Those rights were terminated pursuant to the Termination Agreement. The acquisition of CTL was treated as a related party transaction as the Company’s chief executive officer was the manager of CTL at the time of the acquisition and was recused from participating in the Company’s Board of Directors’ consideration and approval of the acquisition.
	At June 30, 2013, the Company or its subsidiaries owned 402 policies that were acquired through the acquisition of CTL or that were considered contingent assets prior to the effectiveness of the Termination Agreement, with an aggregate death benefit of $1.9 billion and an estimated fair value of approximately $139.7 million. The addition of these policies resulted in a $65.2 million unrealized gain on life settlement during the quarter ended June 30, 2013. Policy acquisitions similar in scale and in transaction price to those made during the period should not be anticipated in future periods.

DEBT_DISCLOSURE

DEBT DISCLOSURE	12 Months Ended
	Dec. 31, 2014
8.50% Senior Unsecured Convertible Notes Due 2019
DEBT DISCLOSURE	NOTE 11—8.5% 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 Convertible Notes were sold, in part, to certain accredited investors pursuant to Regulation D under the Securities Act of 1933 and, in part, to an initial purchaser who then resold such Convertible Notes to qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933. The Convertible Notes were issued pursuant to an indenture dated February 21, 2014, between the Company and U.S. Bank National Association, as trustee. Two members of our Board of Directors, Messrs. Dakos and Goldstein, are affiliated with Bulldog Investors, LLC, who purchased Convertible Notes in the aggregate principal amount of $9.2 million in the offering.
	The Convertible 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 Convertible Notes are effectively subordinate to all of our secured indebtedness to the extent of the value of the assets collateralizing such indebtedness. The Convertible Notes are not guaranteed by our subsidiaries.
	The maturity date of the Convertible Notes is February 15, 2019. The Convertible 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.
	The Convertible 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. The Convertible 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 Convertible Notes (equivalent to a conversion price of $6.76 per share of common stock), subject to adjustment.
	The Company may not redeem the Convertible 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 Convertible 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 Convertible Notes, plus any accrued and unpaid interest to, but excluding, the redemption date. In addition, if we call the Convertible 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 determined that an embedded conversion option existed in the Convertible Notes, prior to June 5, 2014, that was required to be separately accounted for as a derivative under ASC 815 which required 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 with changes in the fair value of the conversion derivative liability recorded in earnings and the discount on the debt liability, together with the stated interest on the instrument, amortized to interest expense over the life of the debt using the effective interest method.
	On June 5, 2014, the Company obtained shareholder approval to issue shares of common stock upon conversion of the Convertible Notes in an amount that exceeded applicable New York Stock Exchange limits for issuances without shareholder approval. In accordance with ASC 815, the Company reclassified the embedded conversion derivative liability to equity along with unamortized transaction costs proportionate to the allocation of the initial debt discount and the principal amount of the Convertible Notes. The Convertible Notes are recorded at accreted value and will continue to be accreted up to the par value of the Notes at maturity.
	The fair value of the conversion derivative liability was estimated at June 5, 2014 using a Black Scholes pricing model with the following assumptions:
		As of
		June 5, 2014
	Expected Volatility		40	%
	Expected Term in Years		4.7
	Risk Free Rate		1.5	%
	At June 5, 2014, the fair value of the conversion derivative liability was $23.7 million. In accordance with ASC 815, the Company reclassified this amount along with $756,000 of unamortized transaction costs offset by deferred taxes of $8.8 million to stockholders’ equity. As of December 31, 2014, the carrying value of the Notes was $55.9 million. The unamortized debt discount and origination cost of $14.9 million and $2.2 million, respectively, will be amortized over the remaining life of the Convertible Notes, using the effective interest method.
	The Company recorded $7.5 million of interest expense on the Convertible Notes, including $5.2 million, $2.0 million and $332,000 from interest, amortizing debt discounts and issuance costs, during the year ended December 31, 2014.
	During year ended December 31, 2014, the Company recorded a loss on the change in fair value of the conversion derivative liability of $6.8 million.
12.875% Senior Secured Notes
DEBT DISCLOSURE	NOTE 12—12.875% SENIOR SECURED NOTES
	On November 10, 2014 (the “Initial Closing Date”), the Company, as issuer, entered into an indenture with certain of its subsidiaries, Harbordale, LLC, Imperial Finance & Trading, LLC, Imperial Life and Annuity Services, LLC, Imperial Litigation Funding, LLC, Imperial Premium Finance, LLC, Red Reef Alternative Investments, LLC and Washington Square Financial, LLC, as guarantors (the “Guarantors”), and Wilmington Trust Company, as indenture trustee. The indenture provides for the issuance of up to $100 million in senior secured notes (the “Secured Notes”), of which $25 million was issued by the Company on the Initial Closing Date. The Secured Notes issued on the Initial Closing Date were issued at 96% of their face amount and were purchased under a note purchase agreement (the “Note Purchase Agreement”) with the Company and the Guarantors by an affiliate of Indaba Capital Management, L.P. (the “Purchaser”) in a private transaction pursuant to exemptions from the registration requirements of the Securities Act of 1933, as amended. The Note Purchase Agreement gives the Purchaser the right, subject to applicable law, to appoint one director to Imperial’s board of directors so long as it maintains a voting percentage of at least 5% of Imperial’s common stock and holds at least $25 million in principal amount or market value of Imperial’s debt.
	Interest on issued Secured Notes accrues at 12.875% per annum and all Secured Notes issued under the indenture will mature on November 10, 2017 although Imperial may elect to extend the maturity date by an additional 12 months (the “Extended Term”) and, if elected, interest on the Secured Notes will accrue at 14.5% during the Extended Term. The Secured Notes may not be optionally redeemed by the Company for one year from the Initial Closing Date. Between the first and second anniversary of the Initial Closing Date, the Company may optionally redeem the Secured Notes at 106% of the principal amount redeemed and thereafter at 104%, in each case, plus accrued and unpaid interest on the Secured Notes to the date of redemption. If the Company does not elect the Extended Term, Secured Notes may be optionally redeemed within 60 days of the Initial Maturity at par plus accrued and unpaid interest up to the Initial Maturity. The Senior Notes are subject to mandatory prepayment provisions upon the issuance of additional debt and asset sales. In addition to usual and customary affirmative and negative covenants restricting additional debt, creation of liens, transactions with affiliates, and restrictions on certain payments and investments, the indenture governing the Secured Notes requires the Company to maintain a net worth of no less than $100 million and cash and cash equivalents of at least $20 million.
	The Secured Notes are guaranteed by the Guarantors and are secured by substantially all of the Company’s and Guarantors’ assets, other than those securing the Revolving Credit Facility, including cash on account as well as the Company’s life insurance policies that are not pledged as collateral under the Revolving Credit Facility. The Secured Notes are also secured by pledges of the equity interests of the Guarantors and by pledges of 65% of their first tier foreign subsidiaries. As of December 31, 2014, 157 life insurance policies owned by the Company with an aggregate death benefit of approximately $679.2 million and an estimated fair value of approximately $82.6 million have been pledged as collateral as security for the Secured Notes.
	The Company may issue, and the Purchaser will be obligated to purchase, up to an additional $75 million in aggregate principal amount of Secured Notes in $25 million increments during the period ending on the 12-month anniversary of the Initial Closing Date provided certain performance conditions are met (in addition to usual and customary conditions precedent). The Company must deploy $25 million in investments following the Initial Closing Date to be eligible to issue the next $25 million of Secured Notes. Thereafter, the remaining $50 million in aggregate principal amount of Secured Notes may only be issued if the Company satisfies certain book and market value targets. Fees and expenses paid by the Company at closing were approximately $1.8 million. Additionally, the Company will pay a draw-down fee of 1% of the amount of any subsequent issuance of Secured Notes and will pay a monthly unused fee on the unissued Secured Notes at a per annum rate of 1%. See Note 20, “Subsequent Events.”
	As of December 31, 2014, the outstanding principal balance of the Secured Notes was $25.0 million. The Company recorded $694,000 of interest expense on the Secured Notes, including $592,000. $36,000 and $66,000 from interest, amortizing debt discounts and issuance costs, during the year ended December 31, 2014.
Revolving Credit Facility
DEBT DISCLOSURE	NOTE 10—REVOLVING CREDIT FACILITY
	Effective April 29, 2013, White Eagle entered into a 15-year revolving credit agreement 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. Proceeds from the initial advance under the facility were used, in part, to retire a bridge facility and to fund the Release Payment described in Note 9. On May 16, 2014, White Eagle Asset Portfolio, LLC converted from a Delaware limited liability company to White Eagle Asset Portfolio, LP, a Delaware limited partnership (the “Conversion”) and all of its ownership interests were transferred to an indirect, wholly-owned Irish subsidiary of the Company. In connection with the Conversion, the Revolving Credit Facility was amended and restated among White Eagle, as borrower, Imperial Finance and Trading, LLC, as the initial servicer, the initial portfolio manager and guarantor, Lamington Road Bermuda Ltd., as portfolio manager, LNV Corporation, as initial lender, the other financial institutions party thereto as lenders, and CLMG Corp., as administrative agent for the lenders.
	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 are 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.
	In connection with the entry into the amended and restated Revolving Credit Facility, a new servicing agreement with respect to the policies pledged under the facility has been entered into with a third party. Prior to the amendment and restatement, a corporate subsidiary acted as servicer.
	As of December 31, 2014, 450 life insurance policies owned by White Eagle with an aggregate death benefit of approximately $2.3 billion and an estimated fair value of approximately $306.3 million are 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. 450 life insurance policies with an aggregate death benefit of approximately $2.3 billion and an estimated fair value of approximately $306.3 million are pledged as collateral under the Revolving Credit Facility at December 31, 2014. In addition, the 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. At December 31 2014, $139.3 million was undrawn and $1.9 million was available to borrow under the Revolving Credit Facility.
	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 December 31, 2014 is 5.5%.
	Interest expense for the cash portion of interest paid during the period is recorded in the Company’s consolidated financial statements. 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 $8.0 million, which includes $5.8 million withheld from borrowings by the lender and $2.2 million paid by White Eagle, for the year ended December 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), certain changes in law, 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, including strict foreclosure, 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 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 December 31, 2014, the fair value of the outstanding debt was $145.8 million and the borrowing base was approximately $162.5 million, including $160.7 million in outstanding principal.
	As of December 31, 2014, 450 life insurance policies owned by White Eagle with an aggregate death benefit of approximately $2.3 billion and an estimated fair value of approximately $306.3 million have been pledged as collateral under the Revolving Credit Facility.
	There are no scheduled repayments of principal prior to maturity. Payments are due upon receipt of death benefits and distributed pursuant to the waterfall as described above.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2014
FAIR VALUE MEASUREMENTS	NOTE 13—FAIR VALUE MEASUREMENTS
	We carry investments in life settlements, certain structured settlements, and the Revolving Credit Facility debt 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 December 31, 2014, are as follows (in thousands):
		Level 1			Level 2			Level 3			Total Fair
											Value
	Assets:
	Investment in life settlements	$	—		$	—		$	388,886		$	388,886
	Structured settlement receivables		—			—			384			384
		$	—		$	—		$	389,270		$	389,270
	The balances of the Company’s liabilities measured at fair value on a recurring basis as of December 31, 2014, are as follows (in thousands):
		Level 1			Level 2			Level 3			Total Fair
											Value
	Liabilities:
	Revolving Credit Facility debt	$	—		$	—		$	145,831		$	145,831
		$	—		$	—		$	145,831		$	145,831
	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 although the Company believes that this risk premium has been declining.
	($ in thousands)	Quantitative Information about Level 3 Fair Value Measurements
		Fair Value			Aggregate			Valuation Technique (s)		Unobservable Input	Range
		at 12/31/14			death benefit						(Weighted Average)
					12/31/14
	Non-premium financed	$	59,505		$	254,287		Discounted cash flow		Discount rate	14.80% - 20.80%
										Life expectancy evaluation	(7.8 years)
	Premium financed	$	329,381		$	2,676,779		Discounted cash flow		Discount rate	16.05% - 25.80%
										Life expectancy evaluation	(11.0 years)
	Investment in life settlements	$	388,886		$	2,931,066		Discounted cash flow		Discount rate	-17.77%
										Life expectancy evaluation	(10.7 years)
	Structured settlements receivables	$	384			N/A		Discounted cash flow		Facility sales discount rates	8.66%
										Discount rate	23.89%
	Note payable	$	145,831			N/A		Discounted cash flow		Life expectancy evaluation	(10.4 years)
	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.
	The Company provides medical records for each insured to independent secondary market life expectancy providers (each, an “LE provider”). Each LE provider reviews and analyzes the medical records and identifies all medical conditions it feels are relevant to the life expectancy determination of the insured. Debits and credits are 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 mortality factor represents the degree to which the given life can be considered more or less impaired than a 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 relative to the LE provider’s population. Since each provider’s mortality factor is based on its own mortality table, the Company calculates its own factors to apply to the table selected by the Company.
	Beginning in the quarter ended September 30, 2012, the Company began using the 2008 Valuation Basic Table (“2008 VBT”), a mortality table developed by the U.S. Society of Actuaries. The mortality table is created based on the expected rates of death among groups categorized by gender, age, and smoking status. Since the Company uses the 2008 VBT, the Company calculates its own mortality factor that, when applied to the 2008 VBT, produces the same life expectancy provided by each LE providers. The resulting mortality factors are then blended to determine a factor for each insured.
	To generate best estimate probabilistic cash flow stream, a mortality curve is generated by calculating the probability of mortality for each period based on the calculated mortality factors and the death rates from the 2008 VBT. The company modifies the table by incorporating future mortality improvements to better reflect the curves used by the LE providers.
	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 obtains its life expectancy reports from two life expectancy report providers, AVS Underwriting LLC (“AVS”) and 21st Services, LLC (“21st Services”). 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%. As of December 31, 2014, the Company received 477 updated life expectancy reports from 21st Services, of which 441 were used to calculate life expectancy extension. These life expectancies reported an average lengthening of life expectancies of 17.74% and, based on this sample, for the year ended December 31, 2014, the Company increased the life expectancies furnished by 21st Services by 17.74% 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.
	In August 2014, the U.S. Society of Actuaries released draft tables for the 2014 Valuation Basic Table (“2014 VBT”), which show a lengthening of average life expectancies. We currently use a modified version of the 2008 Valuation Basic Table (“2008 VBT”), the predecessor to the 2014 VBT, as an input to the estimation of fair value of our life settlements. The 2014 VBT is expected to be released some time in 2015 and we will continue to monitor the market reaction to the draft tables and to the 2014 VBT once it is released. Future changes in life expectancies could have a material adverse 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.
	Life expectancy sensitivity analysis
	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	$	327,556		$	(61,330	)
	-	$	388,886			—
	-6	$	455,430		$	66,544
	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 and certain civil litigation involving the Company, 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 policies associated with the Company’s legacy premium finance business. In general, the Company believes that the risk premium an investor would require to transact in a policy that has been premium financed versus a policy without premium financing is lessening in the current market environment and further expects that, with the passage of time, investors will continue to require less of a risk premium to transact in policies associated with its legacy 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 December 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 December 31, 2014:
Carrier	Percentage of			Percentage of			Moody’s			S&P
	Total Fair			Total Death			Rating			Rating
	Value			Benefit
Lincoln National Life Insurance Company		22.8	%		20.1	%		A1			AA-
Transamerica Life Insurance Company		22	%		20.5	%		A1			AA-
Estimated risk premium
As of December 31, 2014, the Company owned 607 policies with an aggregate investment in life settlements of $388.9 million. Of these 607 policies, 553 were premium financed and are valued using discount rates that range from 16.05% to 25.80%. The remaining 54 policies, which are non-premium financed, are valued using discount rates that range from 14.80% to 20.80%. As of December 31, 2014, the weighted average discount rate calculated based on death benefit used in valuing the policies in our life settlement portfolio was 17.77%.
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	Rate Adjustment			Value			Change in Value
Benefit
17.27%		-0.5	%	$	399,523		$	10,637
17.77%		—		$	388,886		$	—
18.27%		0.5	%	$	378,709		$	(10,177	)
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 made this election because it was our intention to sell these assets within twelve months of acquisition. 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 December 31, 2014, the Company had 17 structured settlements with an estimated fair value of $384,000 and an average sales discount rate of 8.66%.
Revolving Credit Facility debt—In connection with the Revolving Credit Facility, 450 policies are pledged by White Eagle 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 is determined by 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 life settlement portfolio pledged under the Revolving Credit Facility 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	$	124,054		$	(21,777	)
-	$	145,831			—
-6	$	168,975		$	23,144
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 December 31, 2014 would be as follows (dollars in thousands):
Discount Rate	Rate Adjustment			Fair Value of			Change in Value
				Revolving Credit
				Facility debt
23.39%		-0.5	%	$	148,613		$	2,782
23.89%		—		$	145,831		$	—
24.39%		0.5	%	$	143,142		$	(2,689	)
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 December 31, 2014, the fair value of the debt was $145.8 million and the outstanding principal was approximately $160.7 million.
Senior Unsecured Convertible Notes- The Company determined that an embedded conversion option in the Convertible Notes was required to be separately accounted for as a derivative under Accounting Standards Codification 815, Derivatives and Hedging (“ASC 815”). ASC 815 required 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 used 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 required assumptions as to expected volatility, dividends, terms, and risk free rates.
In accordance with ASC 815, upon receipt of shareholder approval on June 5, 2014, the Company reclassified the embedded derivative to stockholders’ equity along with unamortized transaction costs proportionate to the allocation of the initial debt discount and the principal amount of the Convertible Notes. The Convertible Notes continue to be recorded at accreted value up to the par value of the Convertible Notes at maturity. See Note 11, “8.50% Senior Unsecured Convertible Notes.” 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 year ended December 31, 2014, for all assets and liabilities 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		16,296
Change in fair value		44,128
Matured/lapsed/sold polices		(29,957	)
Premiums paid		55,458
Transfers into level 3		—
Transfers out of level 3		—
Balance, December 31, 2014	$	388,886
Changes in fair value included in earnings for the period relating to assets held at December 31, 2014	$	22,597
The following tables provide a roll-forward in the changes in fair value for the year ended December 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
Draws under the revolving credit facility		57,233
Payments on credit facility		(29,777	)
Unrealized change in fair value		(5,472	)
Transfers into level 3		—
Transfer out of level 3		—
Balance, December 31, 2014	$	145,831
Changes in fair value included in earnings for the period relating to liabilities at December 31, 2014	$	(5,472	)
The following tables provide a roll-forward in the changes in fair value for the year ended December 31, 2013, for all assets and liabilities 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
Purchase of policies		55,500
Acquired in foreclosure		3,168
Change in fair value		88,686
Matured/lapsed/sold polices		(22,955	)
Premiums paid		65,121
Transfers into level 3		—
Transfers out of level 3		—
Balance, December 31, 2013	$	302,961
Changes in fair value included in earnings for the period relating to assets held at December 31, 2013	$	75,673
The following tables provide a roll-forward in the changes in fair value for the year ended December 31, 2013, 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, 2013	$	—
Initial Advance under the revolving credit facility		83,020
Subsequent Draws under the revolving credit facility		50,200
Unrealized change in fair value		(9,373	)
Transfers into level 3		—
Transfer out of level 3		—
Balance, December 31, 2013	$	123,847
Changes in fair value included in earnings for the period relating to liabilities at December 31, 2013	$	(9,373	)
There were no transfers of financial assets between levels of the fair value hierarchy during the years ended December 31, 2014 and 2013.

SEGMENT_INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2014
SEGMENT INFORMATION	NOTE 14—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	12 Months Ended
	Dec. 31, 2014
COMMITMENTS AND CONTINGENCIES	NOTE 15—COMMITMENTS AND CONTINGENCIES
	Lease Agreements
	The Company leases office space under a new lease that commenced on October 1, 2014. The lease expires on September 30, 2020. The annual base rent is $225,100, with a provision for a 3% increase on each anniversary of the rent commencement date. Rent expense was approximately $513,000, $438,000 and $528,000 for the years ended December 31, 2014, 2013 and 2012, respectively.
	Future minimum payments under operating leases for each of the five succeeding years and thereafter subsequent to December 31, 2014 are as follows (in thousands):
	Year Ending December 31,
	2015	$	171
	2016		234
	2017		240
	2018		248
	2019		255
	Thereafter		196
		$	1,344
	Employment Agreements
	We have entered into employment agreements with certain of our officers, including with our chief executive officer, whose agreement 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 the chief executive 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 $2.1 million and $2.8 million during the years ended December 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 December 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 remaining term 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 $5.0 million and $4.5 million were recognized for the years ended December 31, 2014 and 2013, respectively.
	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”), asserting, among other things, that at least 28 life insurance policies issued by Sun Life and owned by the Company through certain of its subsidiaries were invalid The Sun Life complaint, as amended, asserted the following claims: (1) violations of the federal Racketeer Influenced and Corrupt Organizations (“RICO”) Act, (2) conspiracy to violate the RICO Act, (3) common law fraud, (3) civil conspiracy, (4) aiding and abetting fraud, (5) civil conspiracy to commit fraud, (6) tortious interference with contractual obligations, and (7) a declaration that the policies ar issue were void. Following the filing of a motion by the Company to dismiss the Sun Life Case, on December 9, 2014, the Court dismissed counts (2), (4), (5), (6) and (7), with prejudice. The Company then filed a motion for summary judgment on the remaining counts. On February 4, 2015, the Court issued an order (the “Order”) granting the Company’s motion for summary judgment on counts (1) and (3), resulting in the Company prevailing on all counts in the Sun Life Case.
	On July 29, 2013, the Company filed a separate complaint against Sun Life in United States District Court for the Southern District of Florida, entitled Imperial Premium Finance, LLC v. Sun Life Assurance Company of Canada (“Imperial Case”), which was subsequently consolidated with the Sun Life Case. The Imperial 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, which was denied by the Court as part of the Order. The trial in the Imperial Case is currently set to commence on August 3, 2015. The Court granted Sun Life an extension up to March 19, 2015 to file an Answer in the Imperial Case.
	On February 26, 2015, Sun Life filed a Notice of Appeal to the United States Court of Appeals for the Eleventh Circuit from the District Court’s February 4th Order, which denied Sun Life’s motion to dismiss.
	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 and oral argument was held before the Eleventh Circuit Court of Appeals on October 7, 2014. On February 26, 2015, the Eleven Circuit Panel affirmed the District Court’s order. The Company recorded a reserve of $850,000 that is included in other liabilities as of December 31, 2014 and 2013.
	IRS Investigation
	The Internal Revenue Service (“IRS”) Criminal Investigation Division notified the Company in February 2014 that it is conducting an investigation related to the Company and its legacy structured settlements business. The Company believes that it 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 or what impact, if any, the cost of providing information and documents might have on the Company’s financial condition, results of operations, or cash flows. 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. The Company has not established any provision for losses in respect to this matter.
	Class Action Litigation
	On January 20, 2015, a purported shareholder of the Company filed a putative class action complaint against the Company, and the individual members of the Board of Directors, in the Circuit Court of the 15th Judicial Circuit, in and for Palm Beach County, entitled Harry Rothenberg v. Imperial Holdings, Inc., et al. (“Rothenberg Complaint”), The Rothenberg Complaint alleges breaches of fiduciary duties of due care and seeks to invalidate the bylaw amendment adopted by the Board of Directors on October 30, 2014, which requires current and former shareholders who wish to file a class or derivative action against the Company, its directors or its officers to first obtain written consent from other shareholders beneficially owning at least 3% of the outstanding shares of the Company. The Company has not established any provision for losses in respect of this matter.
	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	12 Months Ended
	Dec. 31, 2014
STOCKHOLDERS' EQUITY	NOTE 16—STOCKHOLDERS’ EQUITY
	The Company has reserved an aggregate of 1,200,000 shares of common stock under its Omnibus Plan, of which 807,949 options to purchase shares of common stock granted to existing employees were outstanding as of December 31, 2014, and 41,060 shares of restricted stock had been granted to directors under the plan subject to vesting.
	On June 5, 2014, upon receipt of shareholder approval, the Company reclassified the embedded derivative contained in its Convertible Notes to stockholders’ equity along with unamortized transaction costs proportionate to the allocation of the initial debt discount and the principal amount of the Convertible Notes. This resulted in an increase to additional paid-in-capital of $14.1 million, net of taxes on the Company’s consolidated balance sheet and consolidated statement of stockholders’ equity as of December 31, 2014. See Note 11, 8.50% Senior Unsecured Convertible Notes.
	In connection with the settlement of derivative litigation, the Company issued 125,628 shares of the Company’s stock, which were issued in the first quarter of 2014 and are included in stockholders’ equity.
	In connection with the settlement of class litigation filing in connection with the USAO Investigation, the Company issued warrants to purchase two million shares of the Company’s stock into an escrow account in April 2014 and were distributed in October 2014. The estimated fair value at the measurement date of such warrants was $5.4 million, which is included in stockholder’s equity. The warrants have a five-year term from the date of their distribution with an exercise price of $10.75. The Company is obligated to file a registration statement to register the shares underlying the warrants with the SEC if shares of the Company’s common stock have an average daily trading closing price of at least $8.50 per share for a 45 day period. The warrants will be exercisable upon effectiveness of the registration statement.
	During the year ended December 31, 2014, the Company awarded 323,500 target performance shares for restricted common stock to its directors and certain employees, of which 150,000 shares are subject to shareholder approval of an amendment to the Omnibus Plan at the Company’s 2015 annual meeting. The issuance of the performance shares is contingent on the Company’s financial performance as well as the performance of the Company’s common stock through June 30, 2016, with the actual shares to be issued ranging between 0 – 150% of the target performance shares. As a result, the Company determined that it is not probable that the performance conditions will be achieved and no related expense was recognized for the year ended December 31, 2014. The performance shares will be subject to a one year vesting period from the date of issuance.
	Exclusive of those performance shares awarded to our named executive officers that are not subject to shareholder approval of an amendment to the Plan at the Company’s 2015 annual meeting, there were 316,439 securities remaining for future issuance under the Omnibus Plan as of December 31, 2014.
	During the year ended December 31, 2014, the Company adopted ASU No. 2013-11, resulting 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 December 31, 2014. See Note 2, Summary of Significant Accounting Policies.

EMPLOYEE_BENEFIT_PLAN

EMPLOYEE BENEFIT PLAN	12 Months Ended
	Dec. 31, 2014
EMPLOYEE BENEFIT PLAN	NOTE 17—EMPLOYEE BENEFIT PLAN
	The Company has adopted a 401(k) plan that covers employees that have reached 18 years of age and completed three months of service. The plan provides for voluntary employee contributions through salary reductions, as well as discretionary employer contributions. For the years ended December 31, 2014, 2013 and 2012, there were no employer contributions made.

SUMMARY_OF_QUARTERLY_FINANCIAL

SUMMARY OF QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2014
SUMMARY OF QUARTERLY FINANCIAL DATA (UNAUDITED)	NOTE 18—SUMMARY OF QUARTERLY FINANCIAL DATA (UNAUDITED)
	The following tables set forth our unaudited consolidated financial data regarding continuing operations for each quarter of fiscal 2014 and 2013 (in thousands). This information, in the opinion of management, includes all adjustments necessary, consisting only of normal and recurring adjustments, to state fairly the information set forth therein. Certain amounts previously reported have been reclassified to conform to the current presentation. These reclassifications had no net impact on the results of operations (in thousands).
			Fiscal 2014
			1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
	Total income			13,602			8,996			(3,617	)		24,835
	(Loss)/income from continuing operations before taxes			658			(10,474	)		(6,499	)		11,289
	Net (loss)/income from continuing operations			(3,318	)(2)		(6,281	)		(4,264	)		8,712
	EPS from continuing operations:
	Basic		$	(0.16	)	$	(0.29	)	$	(0.20	)	$	0.41
	Diluted		$	(0.16	)	$	(0.29	)	$	(0.20	)	$	0.32	(1)
	-1	The sum of the diluted earnings per share amounts for each quarter in fiscal 2014 do not equal the amount presented in the statement of operations for the year ended December 31, 2014 due to the Company having a net loss for the year ended December 31, 2014 and therefore all common stock equivalents were antidilutive.
	-2	The Company recorded an income tax expense of $3.7 million, in the first quarter of 2014 upon the adoption of ASU 2013-11.
			Fiscal 2013
			1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
	Total income			2,160			65,637			14,809			6,472
	(Loss)/income from continuing operations before income taxes			(5,296	)		47,154			6,106			3,898
	Net (loss)/income from continuing operations			(5,336	)		47,154			6,106			3,899
	EPS from continuing operations:
	Basic		$	(0.25	)	$	2.22		$	0.29		$	0.18
	Diluted		$	(0.25	)	$	2.22		$	0.29		$	0.18

INCOME_TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2014
INCOME TAXES	NOTE 19—INCOME TAXES
	The provision (benefit) for income taxes from continuing operations consisted of (in thousands):
		12/31/14			12/31/13			12/31/12
	Continuing operations	$	125		$	39		$	(39	)
	Discontinued operations		(232	)		—			—
	Provision (benefit) for income taxes	$	(107	)	$	39		$	(39	)
	Current
	Federal	$	—		$	—		$	—
	State		—			—			—
			—			—			—
	Deferred
	Federal		5,214			17,182			(13,513	)
	State		(2,522	)		2,857			(2,247	)
			2,692			20,039			(15,760	)
	Valuation allowance (decrease) increase	$	(2,567	)	$	(20,000	)	$	15,721
	Provision (benefit) for income taxes from continuing operations	$	125		$	39		$	(39	)
	U.S. and foreign components of income (loss) from continuing operations before income taxes were as follows (in thousands):
		12/31/14			12/31/13			12/31/12
	U.S.	$	(10,824	)	$	51,862		$	(42,058	)
	Foreign		5,798			—			—
		$	(5,026	)	$	51,862		$	(42,058	)
	The Company’s actual provision (benefit) for income taxes from continuing operations differ from the Federal expected income tax provision as follows (in thousands):
		2014						2013						2012
		Amount			Rate			Amount			Rate			Amount			Rate
	Tax provision (benefit) at statutory rate	$	(1,759	)		35	%	$	18,152			35	%	$	(14,720	)		35	%
	Increase (decrease) in taxes resulting from:
	State tax (net of federal benefit)		(364	)		7.24			1,857			3.58			(1,462	)		3.48
	Impact of rate changes		(1,851	)		36.84			—			—			—			—
	Permanent items		371			(7.40	)		30			0.06			422			(1.00	)
	Adoption of ASU 2013-11		6,295			(125.26	)		—			—			—			—
	Valuation allowance (decrease) increase		(2,567	)		51.08			(20,000	)		(38.56	)		15,721			(37.39	)
	Provision (benefit) for income taxes	$	125			(2.50	)%	$	39			0.08	%	$	(39	)		0.09	%
	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and tax liabilities were (in thousands):
		December 31,			December 31,
		2014			2013
	Deferred tax assets:
	Federal and State net operating loss carryforward	$	28,864		$	28,639
	Litigation reserves		328			2,990
	Revolving credit facility		1,735			1,038
	Other		722			1,226
	Total gross deferred tax assets		31,649			33,893
	Less valuation allowance		—			(2,567	)
	Total deferred tax assets		31,649			31,326
	Deferred tax liabilities:
	Unrealized gains on life and structured settlements		30,201			26,830
	Gain on structured settlements deferred for tax purposes		4,443			4,496
	Convertible debt discount		5,733			—
	Total deferred tax liabilities		40,377			31,326
	Total net deferred tax asset (liability)	$	(8,728	)	$	—
	The Company evaluates its deferred tax assets to determine if valuation allowances are required. In its evaluation, management considers taxable loss carryback availability, expectations of sufficient future taxable income, trends in earnings, existence of taxable income in recent years, the future reversal of temporary differences, and available tax planning strategies that could be implemented, if required. Valuation allowances are established based on the consideration of all available evidence using a more likely than not standard. Based on the Company’s evaluation, a full deferred tax valuation allowance was established against its net deferred tax assets as of December 31, 2013. However, during the year ended December 31, 2014, the Company eliminated the valuation allowance upon the adoption of guidance provided in ASU No. 2013-11. The change in the valuation allowance was recognized as a charge (benefit) to income tax expense.
	At the time the Company recorded a liability for the conversion derivative liability attributed to the issuance of the Notes, the Company recorded a deferred tax asset of $6.5 million for the conversion derivative liability and a deferred tax liability of $6.5 million for the corresponding debt discount. As the changes in the fair value of the conversion derivative liability are included in earnings, the Company recorded additions to the deferred tax asset. At June 5, 2014 when the Company received shareholder approval to issue shares of common stock upon conversion of the Notes, the deferred tax attributed to the conversion derivative liability (net of allocated unamortized transaction costs) was $8.8 million. In accordance with ASC 815, the Company reclassified the deferred tax asset attributed to the conversion derivative liability (net of allocated unamortized transaction costs) to equity. See Note 10, 8.50% Senior Unsecured Convertible Notes.
	Generally, the amount of tax expense or benefit allocated to continuing operations is determined without regard to the tax effects of other categories of income or loss, such as other comprehensive income. However, an exception to the general rule is provided when, in the presence of a valuation allowance against deferred tax assets, there is a pretax loss from continuing operations and pretax income from other categories. In such instances, income from other categories must offset the current loss from operations, the tax benefit of such offset being reflected in continuing operations. For the periods ended December 31, 2013 and 2012 we increased (reduced) our deferred tax valuation allowance from continuing operations by $56,000 and $39,000 respectively to reflect the taxable income associated with unrealized gains in accumulated other comprehensive income.
	The Federal and state NOL generated by the Company since its conversion to a corporation was approximately $80.0 million that expire beginning in 2031.
	Prior to the Company’s initial public offering in 2011, one of the founding members entered into a reorganization that allowed the Company to assume the corporate shareholder’s tax attributes. These tax attributes include approximately $11.2 million of net operating loss carryovers (“NOLs”). The utilization of the acquired NOLs is subject to an annual limitation based on the value of the Company at the time they were acquired. These NOLs expire starting in 2028.
	The Company’s income tax returns for all years are subject to examination. Various state jurisdiction tax years also remain open to examination.
	The Company recognizes interest and penalties accrued related to unrecognized tax benefits in tax expense.
	A reconciliation of the total amounts of unrecognized benefits at the beginning and end of the period was as follows (in thousands):
		December 31,			December 31,			December 31,
		2014			2013			2012
	Balance as of beginning of period	$	6,295		$	6,295		$	6,295
	Additions based on tax positions taken in the current year		—			—			—
	Reductions of tax positions for prior years		—			—			—
	Balance as of end of period	$	6,295		$	6,295		$	6,295
	The unrecognized benefit is reflected as a reduction of the deferred tax asset related to the Federal and State net operating loss carryforward. The recognition of the unrecognized tax benefits would result in a $6,295,000 decrease in the Company’s effective tax rate.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2014
SUBSEQUENT EVENTS	NOTE 20—SUBSEQUENT EVENTS
	On January 21, 2015, the Company issued an additional $25 million in aggregate principal amount of Secured Notes at 96% of their face amount and sold the additional Secured Notes in a private transaction pursuant to exemptions from the registration requirements of the Securities Act of 1933, as amended. Estimated fees and expenses payable by the Company in connection with the closing of the issuance were $275,000.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2014
Principles of Consolidation	Principles of Consolidation
	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 which is accounted for using the cost method of accounting. 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 services performed by subsidiaries in connection with the Revolving Credit Facility. Notwithstanding consolidation, White Eagle is the owner of 450 policies, with an aggregate death benefit of approximately $2.3 billion and an estimated fair value of approximately $306.3 million at December 31, 2014.
Ownership of Life Insurance Policies	Ownership of Life Insurance Policies
	In the ordinary course of our legacy premium finance business, a large portion of our borrowers defaulted by not paying off their loans and relinquished ownership of their life insurance policies to us in exchange for our release of the obligation to pay amounts due. We also buy life insurance policies in the secondary and tertiary markets. We account for life insurance policies that we own as investments in life settlements (life insurance policies) in accordance with ASC 325-30, Investments in Insurance Contracts, which requires us to either elect the investment method or the fair value method. The election is made on an instrument-by-instrument basis and is irrevocable. We have elected to account for these life insurance policies as investments using the fair value method.
	We initially record investments in life settlements at the transaction price. For policies acquired upon relinquishment by our borrowers, we determined the transaction price based on fair value of the acquired policies at the date of relinquishment. The difference between the net carrying value of the loan and the transaction price is recorded as a gain (loss) on loan payoffs and settlement. For policies acquired for cash, the transaction price is the amount paid.
Valuation of Insurance Policies	Valuation of Insurance Policies
	Our valuation of insurance policies is a critical component of our estimate of the fair value of our investments in life settlements (life insurance policies). We currently use 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 Company’s estimate of the life expectancy of the insured and the discount rate. See Note 13, “Fair Value Measurements.”
Fair Value Measurements	Fair Value Measurement Guidance
	We follow ASC 820, Fair Value Measurements and Disclosures, which defines fair value as an exit price representing the amount that would be received if an asset were sold or that would be 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. As a basis for considering such assumptions, the guidance establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. Level 1 relates to quoted prices in active markets for identical assets or liabilities. Level 2 relates to observable inputs other than quoted prices included in Level 1. Level 3 relates to unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Our investments in life insurance policies, structured settlements and Revolving Credit Facility debt are considered Level 3 as there is currently no active market where we are able to observe quoted prices for identical assets/liabilities and our valuation model incorporates significant inputs that are not observable. See Note 13, “Fair Value Measurements.”
Fair Value Option	Fair Value Option
	We have elected to account for the debt under the Revolving Credit Facility, which includes its interest in policy proceeds to the lender, using the fair value method. The fair value of the debt is the estimated amount that would have to be paid 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.
	In February 2014, the Company issued $70.7 million in aggregate principal amount of 8.50% Senior Unsecured Convertible Notes due 2019 (the “Convertible Notes”). The Company determined that an embedded conversion option existed in the Convertible Notes, prior to June 5, 2014, that was required to be separately accounted for as a derivative under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging. On June 5, 2014, the Company obtained shareholder approval to issue shares of common stock upon conversion of the Convertible Notes in an amount that exceeded the New York Stock Exchange limits for issuances without shareholder approval. In accordance with ASC 815, the Company reclassified the conversion derivative liability to stockholders’ equity along with unamortized transaction costs proportionate to the allocation of the initial debt discount and the principal amount of the Notes. In subsequent reporting periods, the Convertible Notes will continue to be recorded at accreted value up to the par value of the Notes at maturity. The debt discount will be amortized into interest expense using the interest method, in an aggregate amount equal to the amount of the conversion derivative liability reclassified into equity along with any unamortized transaction costs. See Note 11, “8.50% Senior Unsecured Convertible Notes.”
Income Taxes	Income Taxes
	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 exists, 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. The Company adopted ASU 2013-11 effective on January 1, 2014, which required the Company to reclassify a $6.3 million current liability for unrecognized tax benefits to deferred taxes. 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 year ended December 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 December 31, 2014.
Cash and Cash Equivalents	Cash and Cash Equivalents
	Cash and cash equivalents include cash on hand and all highly liquid instruments purchased with an original maturity of three months or less. The Company maintains the majority of its cash in several operating accounts with two commercial bank. Balances on deposit are insured by the Federal Deposit Insurance Corporation (“FDIC”). However, from time to time, the Company’s balances may exceed the FDIC insurable amount at its bank.
Deferred Debt Costs	Deferred Debt Costs
	Deferred debt costs include costs incurred in connection with acquiring and maintaining debt arrangements. These costs are amortized over the life of the related debt instrument using the effective interest method and are classified as interest expense in the accompanying consolidated statement of operations. These deferred costs are related to the Company’s Convertible Notes and Secured Notes. The Company did not recognize any deferred cost on its Revolving Credit Facility given all costs were expensed due to electing the fair value option in valuing the Revolving Credit Facility.
Stock-Based Compensation	Stock-Based Compensation
	We have adopted ASC 718, Compensation—Stock Compensation. ASC 718 addresses accounting for share-based awards, including stock options, restricted stock, performance shares and warrants, with compensation expense measured using fair value and recorded over the requisite service or performance period of the award. The fair value of equity instruments awarded will be determined based on a valuation using an option pricing model that takes into account various assumptions that are subjective. Key assumptions used in the valuation will include the expected term of the equity award taking into account both the contractual term of the award, the effects of expected exercise and post-vesting termination behavior, expected volatility, expected dividends and the risk-free interest rate for the expected term of the award.
Gain on Sale of Life Settlements	Gain on Sale of Life Settlements
	Gain on sale of life settlements includes gain from the Company-owned life settlements.
Restricted Cash	Restricted Cash
	At December 31, 2013, restricted cash includes $12.5 million received from the Company’s D&O Carrier and $1.0 million which was contributed by the Company. Restricted cash in respect of the final settlement of the class action and derivative litigation and related matters was released from escrow and paid out in the first quarter of 2014.
Earnings Per Share	Earnings Per Share
	The Company computes net income per share in accordance with ASC 260, Earnings Per Share. Under the provisions of ASC 260, basic net income per share is computed by dividing the net income available to common shareholders by the weighted average common shares outstanding during the period. Diluted net income per share adjusts basic net income per share for the effects of stock options, warrants and restricted stock awards only in periods in which such effect is dilutive. ASC 260 also requires the Company to present basic and diluted earnings per share information separately for each class of equity instruments that participate in any income distribution with primary equity instruments.
Held-for-sale and discontinued operations	Held-for-sale and discontinued operations
	The Company reports a business as held-for-sale when management has approved or received approval to sell the business and is committed to a formal plan, the business is available for immediate sale, the business is being actively marketed, the sale is anticipated to occur during the ensuing year and certain other specified criteria are met. A business classified as held-for-sale is recorded at the lower of its carrying amount or estimated fair value less cost to sell. If the carrying amount of the business exceeds its estimated fair value, a loss is recognized. Depreciation is not recorded on assets of a business classified as held-for-sale. Assets and liabilities related to a business classified as held-for-sale are segregated in the Consolidated Balance Sheet and major classes are separately disclosed in the notes to the Consolidated Financial Statements commencing in the period in which the business is classified as held-for-sale. The Company reports the results of operations of a business as discontinued operations if the business is classified as held-for-sale, the operations and cash flows of the business have been or will be eliminated from the ongoing operations of the Company as a result of a disposal transaction and the Company will not have any significant continuing involvement in the operations of the business after the disposal transaction. The results of discontinued operations are reported in Discontinued Operations in the Consolidated Statement of Operations for current and prior periods commencing in the period in which the business meets the criteria of a discontinued operation, and include any gain or loss recognized on closing or adjustment of the carrying amount to fair value less cost to sell (see Note 7, “Discontinued Operations”).
Foreign Currency	Foreign Currency
	The Company owns certain foreign subsidiaries formed under the laws of Ireland and Bermuda. These foreign subsidiaries utilize the U.S. dollar as their functional currency. Any gains and losses resulting from foreign currency transactions (transactions denominated in a currency other than the subsidiaries’ functional currency) are included in income. These gains and losses are immaterial to the Company’s financial statements.
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, the valuation of equity awards and the valuation of the conversion derivative liability formerly embedded within the Company’s Senior Unsecured Convertible Notes.
Risks and Uncertainties	Risks and Uncertainties
	In the normal course of business, the Company encounters economic, legal and longevity risk. There are two main components of economic risk that could potentially impact the Company: market risk and concentration of credit risk. Market risk for the Company includes interest rate risk. Market risk also reflects the risk of declines in valuation of the Company’s investments, including declines caused by the selection of increased discount rates associated with the Company’s fair value model for investments in life settlements. It is reasonably possible that future changes to estimates involved in valuing life settlements could change and result in material effects to the future financial statements. Concentration of credit risk includes the risk that an insurance carrier who has issued life insurance policies held by the Company in its portfolio does not remit the amount due under those policies upon policy maturities due to the deteriorating financial condition of the carrier or otherwise. Legal risk includes the risk that statutes define or courts interpret insurable interest in a manner adverse to the Company’s ownership rights in its portfolio of life insurance policies and the risk that courts allow insurance carriers to retain premiums paid by the Company in respect of insurance policies that have been successfully rescinded or contested. Longevity risk refers to the risk that the Company does not experience the mortalities of insureds in its portfolio of life insurance policies that are anticipated to occur on an actuarial basis in a timely manner, which would result in the Company expending additional amounts for the payment of premiums.
Recent Accounting Pronouncements	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 exists, 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. The Company adopted ASU 2013-11 effective on January 1, 2014, which required the Company to reclassify a $6.3 million current liability for unrecognized tax benefits to deferred taxes. 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 year ended December 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 in 2014.
Continuing Operations
Income Recognition	Income Recognition from Continuing Operations
	Our primary source of income from continuing operations are in the form of changes in fair value of life settlements and gains on life settlements, net. Our income recognition policies for this source of income is as follows:
		•	Changes in Fair Value of Life Settlements—When the Company acquires certain life insurance policies we initially record these investments at the transaction price, which is the fair value of the policy for those acquired upon relinquishment or the amount paid for policies acquired for cash. The fair value of the investment in insurance policies is evaluated at the end of each reporting period. Changes in the fair value of the investment based on evaluations are recorded as changes in fair value of life settlements in our consolidated statement of operations. The fair value is determined on a discounted cash flow basis that incorporates current life expectancy assumptions. 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 recognizes income from life settlement maturities upon receipt of a death notice or verified obituary of the insured. This income is the difference between the death benefits and fair values of the policy at the time of maturity.
		•	Gains on Life Settlements, Net—The Company recognizes gains from the sale of life settlement contracts that the Company owns upon the signed sale agreement and/or filing of ownership forms and funds transferred to escrow.
Discontinued Operations
Income Recognition	Income Recognition from Discontinued Operations
	Our primary source of income from discontinued operations are in the form of realized gains on sales of structured settlements.
	Realized Gains on Sales of Structured Settlements—Realized gains on sales of structured settlements are recorded when the structured settlements have been transferred to a third party and we no longer have continuing involvement, in accordance with ASC 860, Transfers and Servicing.

CONSOLIDATION_OF_VARIABLE_INTE1

CONSOLIDATION OF VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Dec. 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 December 31, 2014 and 2013, 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
						Total		Maximum Exposure
		Assets		Liabilities		Assets		To Loss
	31-Dec-14	$	314,062	$	146,254	$	2,384	$	2,384
	31-Dec-13	$	264,596	$	124,188	$	2,378	$	2,378

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2014
Reconciliation of Actual Basic and Diluted Earnings Per Share	The following tables reconcile actual basic and diluted earnings per share for the years ended December 31, 2014, 2013 and 2012 (in thousands except per share data).
			2014			2013		2012
	Loss per share:
	Numerator:
	Net (loss) income from continuing operations		$	(5,151	)	$	51,823	$	(42,019	)
	Net (loss) income from discontinued operations			(369	)		13,509		(2,615	)
	Net (loss) income		$	(5,520	)	$	65,332	$	(44,634	)
	Basic (loss) income per common share:
	Basic (loss) income per share from continuing operations		$	(0.24	)	$	2.44	$	(1.98	)
	Basic (loss) income per share from discontinued operations		$	(0.02	)	$	0.64		(0.12	)
	Basic (loss) income per share available to common shareholders		$	(0.26	)	$	3.08	$	(2.10	)
	Diluted (loss) income per common share:
	Diluted (loss) income per share from continuing operations(1)(2)(3)		$	(0.24	)	$	2.44	$	(1.98	)
	Diluted (loss) income per share from discontinued operations(1)(2)(3)			(0.02	)		0.64		(0.12	)
	Diluted (loss) income per share available to common shareholders(1)(2)(3)		$	(0.26	)	$	3.08	$	(2.10	)
	Denominator:
	Basic			21,354,567			21,216,487		21,205,747
	Add: Restricted stock			—			2,451		—
	Diluted(1)(2)(3)			21,354,567			21,218,938		21,205,747
	-1	The computation of diluted EPS did not include 807,949 options and 6,240,521 warrants, 41,060 shares of restricted stock, up to 10,464,941 shares of underlying common stock issuable upon conversion of the Convertible Notes and 323,500 performance shares for the year ended December 31, 2014, as the effect of their inclusion would have been anti-dilutive.
	-2	The computation of diluted EPS did not include 831,282 options and 4,240,521 warrants for the year ended December 31, 2013, as the effect of their inclusion would have been anti-dilutive. The computation of diluted EPS included 2,451 incremental shares of the 17,286 unvested restricted stock outstanding as of December 31, 2013.
	-3	The computation of diluted EPS did not include 487,314 options and 4,240,521 warrants for the year ended December 31, 2012, as the effect of their inclusion would have been anti-dilutive.

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2014
Assumptions Used at the Date of Grant for Stock Based Compensation	Assumptions used for the periods covered herein, are outlined in the table below:
		Year Ended
		December 31, 2013
	Expected Volatility		65.5	%
	Expected Dividend		0	%
	Expected Term in Years		4.25
	Risk Free Rate		0.75	%
Common Stock Option Activity	The following table presents the activity of the Company’s outstanding stock options of common stock for the year ended December 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		(4,340	)		6.94		—		—
	Options expired		(18,993	)		7.04		5.37		—
	Options outstanding, December 31, 2014		807,949		$	8.5		4.48	$	—
	Exercisable at December 31, 2014		650,913			8.88		4.25		—
	Unvested at December 31, 2014		157,036		$	6.94		5.43	$	—
Activity of Unvested Restricted Stock Common Shares	The following table presents the activity of the Company’s unvested restricted stock common shares for the year ended December 31, 2014:
	Common Unvested Shares	Number of
		Shares
	Outstanding January 1, 2014		17,286
	Granted		41,060
	Vested		(17,286	)
	Forfeited		—
	Outstanding December 31, 2014		41,060
Activity of Performance Share Awards	The following table presents the activity of the Company’s performance share awards for the year ended December 31, 2014:
	Performance Shares	Number of
		Shares
	Outstanding January 1, 2014		—
	Awarded		323,500
	Vested		—
	Forfeited		—
	Outstanding December 31, 2014		323,500

DISCONTINUED_OPERATIONS_Tables

DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2014
Operating Results of Discontinued Structured Settlement Business	Operating results related to the Company’s discontinued structured settlement business are as follows:
		Year Ended December 31,
		2014			2013			2012
		(in thousands)
	Total income	$	192		$	11,331		$	13,995
	Total expenses		(793	)		(9,133	)		(16,610	)
	Income (loss) before income taxes		(601	)		2,198			(2,615	)
	Income tax benefit		232			—			—
	Income (loss) from discontinued operations, net of income taxes	$	(369	)	$	2,198		$	(2,615	)
	Gain on disposal of discontinued operations, net of income taxes		—			11,311			—
	Net income (loss) from discontinued operations	$	(369	)	$	13,509		$	(2,615	)

INVESTMENT_IN_LIFE_SETTLEMENTS1

INVESTMENT IN LIFE SETTLEMENTS (LIFE INSURANCE POLICIES) (Tables)	12 Months Ended
	Dec. 31, 2014
Investments in Life Settlements	The following table describes the Company’s investments in life settlements as of December 31, 2014 (dollars in thousands):
	Remaining Life Expectancy (In Years)	Number of		Fair		Face
		Life Settlement		Value		Value
		Contracts
	0-1		—	$	—	$	—
	2-Jan		4		9,227		12,728
	3-Feb		10		23,202		45,852
	4-Mar		16		29,531		67,735
	5-Apr		19		23,012		65,614
	Thereafter		558		303,914		2,739,137
	Total		607	$	388,886	$	2,931,066
	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		Face
		Life Settlement		Value		Value
		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	Premiums to be paid for each of the five succeeding fiscal years to keep the life insurance policies in force as of December 31, 2014, are as follows (in thousands):
	2015		56,846
	2016		60,394
	2017		66,679
	2018		70,583
	2019		78,426
	Thereafter		1,086,849
		$	1,419,777

DEBT_DISCLOSURE_Tables

DEBT DISCLOSURE (Tables)	12 Months Ended
	Dec. 31, 2014
Fair Value of Conversion Derivative Liability	The fair value of the conversion derivative liability was estimated at June 5, 2014 using a Black Scholes pricing model with the following assumptions:
		As of
		June 5, 2014
	Expected Volatility		40	%
	Expected Term in Years		4.7
	Risk Free Rate		1.5	%

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2014
Assets And Liabilities Measured at Fair Value on Recurring Basis	The balances of the Company’s assets measured at fair value on a recurring basis as of December 31, 2014, are as follows (in thousands):
		Level 1			Level 2			Level 3			Total Fair
											Value
	Assets:
	Investment in life settlements	$	—		$	—		$	388,886		$	388,886
	Structured settlement receivables		—			—			384			384
		$	—		$	—		$	389,270		$	389,270
	The balances of the Company’s liabilities measured at fair value on a recurring basis as of December 31, 2014, are as follows (in thousands):
		Level 1			Level 2			Level 3			Total Fair
											Value
	Liabilities:
	Revolving Credit Facility debt	$	—		$	—		$	145,831		$	145,831
		$	—		$	—		$	145,831		$	145,831
	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
Quantitative Information about Level 3 Fair Value Measurements
	($ in thousands)	Quantitative Information about Level 3 Fair Value Measurements
		Fair Value			Aggregate			Valuation Technique (s)		Unobservable Input	Range
		at 12/31/14			death benefit						(Weighted Average)
					12/31/14
	Non-premium financed	$	59,505		$	254,287		Discounted cash flow		Discount rate	14.80% - 20.80%
										Life expectancy evaluation	(7.8 years)
	Premium financed	$	329,381		$	2,676,779		Discounted cash flow		Discount rate	16.05% - 25.80%
										Life expectancy evaluation	(11.0 years)
	Investment in life settlements	$	388,886		$	2,931,066		Discounted cash flow		Discount rate	-17.77%
										Life expectancy evaluation	(10.7 years)
	Structured settlements receivables	$	384			N/A		Discounted cash flow		Facility sales discount rates	8.66%
										Discount rate	23.89%
	Note payable	$	145,831			N/A		Discounted cash flow		Life expectancy evaluation	(10.4 years)
Changes in Estimated Fair Value, If All of Insured Lives in Company's Life Settlement Portfolio Live Six Months Shorter or Longer Than Life Expectancies Provided by Third Parties	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	$	327,556		$	(61,330	)
	-	$	388,886			—
	-6	$	455,430		$	66,544
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 December 31, 2014:
	Carrier	Percentage of			Percentage of			Moody’s			S&P
		Total Fair			Total Death			Rating			Rating
		Value			Benefit
	Lincoln National Life Insurance Company		22.8	%		20.1	%		A1			AA-
	Transamerica Life Insurance Company		22	%		20.5	%		A1			AA-
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 year ended December 31, 2014, for all assets and liabilities 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		16,296
	Change in fair value		44,128
	Matured/lapsed/sold polices		(29,957	)
	Premiums paid		55,458
	Transfers into level 3		—
	Transfers out of level 3		—
	Balance, December 31, 2014	$	388,886
	Changes in fair value included in earnings for the period relating to assets held at December 31, 2014	$	22,597
	The following tables provide a roll-forward in the changes in fair value for the year ended December 31, 2013, for all assets and liabilities 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
	Purchase of policies		55,500
	Acquired in foreclosure		3,168
	Change in fair value		88,686
	Matured/lapsed/sold polices		(22,955	)
	Premiums paid		65,121
	Transfers into level 3		—
	Transfers out of level 3		—
	Balance, December 31, 2013	$	302,961
	Changes in fair value included in earnings for the period relating to assets held at December 31, 2013	$	75,673
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 the year ended December 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
	Draws under the revolving credit facility		57,233
	Payments on credit facility		(29,777	)
	Unrealized change in fair value		(5,472	)
	Transfers into level 3		—
	Transfer out of level 3		—
	Balance, December 31, 2014	$	145,831
	Changes in fair value included in earnings for the period relating to liabilities at December 31, 2014	$	(5,472	)
	The following tables provide a roll-forward in the changes in fair value for the year ended December 31, 2013, 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, 2013	$	—
	Initial Advance under the revolving credit facility		83,020
	Subsequent Draws under the revolving credit facility		50,200
	Unrealized change in fair value		(9,373	)
	Transfers into level 3		—
	Transfer out of level 3		—
	Balance, December 31, 2013	$	123,847
	Changes in fair value included in earnings for the period relating to liabilities at December 31, 2013	$	(9,373	)
Market Approach Valuation Technique
Market Interest Rate Sensitivity Analysis	Market interest rate sensitivity analysis
	Weighted Average Rate Calculated Based on Death	Rate Adjustment			Value			Change in Value
	Benefit
	17.27%		-0.5	%	$	399,523		$	10,637
	17.77%		—		$	388,886		$	—
	18.27%		0.5	%	$	378,709		$	(10,177	)
Revolving Credit Facility
Changes in Estimated Fair Value, If All of Insured Lives in Company's Life Settlement Portfolio Live Six Months Shorter or Longer Than Life Expectancies Provided by Third Parties	If all of the insured lives in the life settlement portfolio pledged under the Revolving Credit Facility 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	$	124,054		$	(21,777	)
	-	$	145,831			—
	-6	$	168,975		$	23,144
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 December 31, 2014 would be as follows (dollars in thousands):
	Discount Rate	Rate Adjustment			Fair Value of			Change in Value
					Revolving Credit
					Facility debt
	23.39%		-0.5	%	$	148,613		$	2,782
	23.89%		—		$	145,831		$	—
	24.39%		0.5	%	$	143,142		$	(2,689	)

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2014
Future Minimum Payments under Operating Leases	Future minimum payments under operating leases for each of the five succeeding years and thereafter subsequent to December 31, 2014 are as follows (in thousands):
	Year Ending December 31,
	2015	$	171
	2016		234
	2017		240
	2018		248
	2019		255
	Thereafter		196
		$	1,344

SUMMARY_OF_QUARTERLY_FINANCIAL1

SUMMARY OF QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2014
Summary Of Quarterly Financial Information	The following tables set forth our unaudited consolidated financial data regarding continuing operations for each quarter of fiscal 2014 and 2013 (in thousands). This information, in the opinion of management, includes all adjustments necessary, consisting only of normal and recurring adjustments, to state fairly the information set forth therein. Certain amounts previously reported have been reclassified to conform to the current presentation. These reclassifications had no net impact on the results of operations (in thousands).
			Fiscal 2014
			1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
	Total income			13,602			8,996			(3,617	)		24,835
	(Loss)/income from continuing operations before taxes			658			(10,474	)		(6,499	)		11,289
	Net (loss)/income from continuing operations			(3,318	)(2)		(6,281	)		(4,264	)		8,712
	EPS from continuing operations:
	Basic		$	(0.16	)	$	(0.29	)	$	(0.20	)	$	0.41
	Diluted		$	(0.16	)	$	(0.29	)	$	(0.20	)	$	0.32	(1)
	-1	The sum of the diluted earnings per share amounts for each quarter in fiscal 2014 do not equal the amount presented in the statement of operations for the year ended December 31, 2014 due to the Company having a net loss for the year ended December 31, 2014 and therefore all common stock equivalents were antidilutive.
	-2	The Company recorded an income tax expense of $3.7 million, in the first quarter of 2014 upon the adoption of ASU 2013-11.
			Fiscal 2013
			1st Quarter			2nd Quarter			3rd Quarter			4th Quarter
	Total income			2,160			65,637			14,809			6,472
	(Loss)/income from continuing operations before income taxes			(5,296	)		47,154			6,106			3,898
	Net (loss)/income from continuing operations			(5,336	)		47,154			6,106			3,899
	EPS from continuing operations:
	Basic		$	(0.25	)	$	2.22		$	0.29		$	0.18
	Diluted		$	(0.25	)	$	2.22		$	0.29		$	0.18

INCOME_TAXES_Tables

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2014
Provision (Benefit) for Income Taxes from Continuing Operations	The provision (benefit) for income taxes from continuing operations consisted of (in thousands):
		12/31/14			12/31/13			12/31/12
	Continuing operations	$	125		$	39		$	(39	)
	Discontinued operations		(232	)		—			—
	Provision (benefit) for income taxes	$	(107	)	$	39		$	(39	)
	Current
	Federal	$	—		$	—		$	—
	State		—			—			—
			—			—			—
	Deferred
	Federal		5,214			17,182			(13,513	)
	State		(2,522	)		2,857			(2,247	)
			2,692			20,039			(15,760	)
	Valuation allowance (decrease) increase	$	(2,567	)	$	(20,000	)	$	15,721
	Provision (benefit) for income taxes from continuing operations	$	125		$	39		$	(39	)
U.S. and Foreign Components of Income (Loss) From Continuing Operations before Income Taxes	U.S. and foreign components of income (loss) from continuing operations before income taxes were as follows (in thousands):
		12/31/14			12/31/13			12/31/12
	U.S.	$	(10,824	)	$	51,862		$	(42,058	)
	Foreign		5,798			—			—
		$	(5,026	)	$	51,862		$	(42,058	)
Actual Provision (Benefit) for Income Taxes from Continuing operations Differ from Federal Expected Income Tax Provision	The Company’s actual provision (benefit) for income taxes from continuing operations differ from the Federal expected income tax provision as follows (in thousands):
		2014						2013						2012
		Amount			Rate			Amount			Rate			Amount			Rate
	Tax provision (benefit) at statutory rate	$	(1,759	)		35	%	$	18,152			35	%	$	(14,720	)		35	%
	Increase (decrease) in taxes resulting from:
	State tax (net of federal benefit)		(364	)		7.24			1,857			3.58			(1,462	)		3.48
	Impact of rate changes		(1,851	)		36.84			—			—			—			—
	Permanent items		371			(7.40	)		30			0.06			422			(1.00	)
	Adoption of ASU 2013-11		6,295			(125.26	)		—			—			—			—
	Valuation allowance (decrease) increase		(2,567	)		51.08			(20,000	)		(38.56	)		15,721			(37.39	)
	Provision (benefit) for income taxes	$	125			(2.50	)%	$	39			0.08	%	$	(39	)		0.09	%
Significant Portions of Deferred Tax Assets and Tax Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and tax liabilities were (in thousands):
		December 31,			December 31,
		2014			2013
	Deferred tax assets:
	Federal and State net operating loss carryforward	$	28,864		$	28,639
	Litigation reserves		328			2,990
	Revolving credit facility		1,735			1,038
	Other		722			1,226
	Total gross deferred tax assets		31,649			33,893
	Less valuation allowance		—			(2,567	)
	Total deferred tax assets		31,649			31,326
	Deferred tax liabilities:
	Unrealized gains on life and structured settlements		30,201			26,830
	Gain on structured settlements deferred for tax purposes		4,443			4,496
	Convertible debt discount		5,733			—
	Total deferred tax liabilities		40,377			31,326
	Total net deferred tax asset (liability)	$	(8,728	)	$	—
Reconciliation of Total Amounts of Unrecognized Benefits	A reconciliation of the total amounts of unrecognized benefits at the beginning and end of the period was as follows (in thousands):
		December 31,			December 31,			December 31,
		2014			2013			2012
	Balance as of beginning of period	$	6,295		$	6,295		$	6,295
	Additions based on tax positions taken in the current year		—			—			—
	Reductions of tax positions for prior years		—			—			—
	Balance as of end of period	$	6,295		$	6,295		$	6,295

Recovered_Sheet1

Organization And Description of Business Activities - Additional Information (Detail) (USD $)	0 Months Ended	12 Months Ended
	Oct. 25, 2013	Dec. 31, 2014	Dec. 31, 2013	Nov. 10, 2014
		Contract	Contract
Organization and Nature of Operations [Line Items]
Number of policies owned		607	612
Life insurance estimated fair value		$388,886,000	$302,961,000
Life insurance policies with aggregate death benefit		2,931,066,000	2,954,890,000
Sale of structured settlement business	12,000,000
Revolving Credit Facility | Securities Pledged as Collateral
Organization and Nature of Operations [Line Items]
Number of policies owned		450
Life insurance policies with aggregate death benefit		2,300,000,000
Portfolio of life insurance		300,000,000
Revolving credit facility period		15 years
12.875% Senior Secured Notes Due 2017
Organization and Nature of Operations [Line Items]
Debt instrument, interest rate				12.88%
12.875% Senior Secured Notes Due 2017 | Securities Pledged as Collateral
Organization and Nature of Operations [Line Items]
Number of policies owned		157
Life insurance estimated fair value		82,600,000
Life insurance policies with aggregate death benefit		$679,200,000
Debt instrument, interest rate		12.88%

Recovered_Sheet2

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	12 Months Ended			0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jan. 01, 2014	Feb. 28, 2014	Apr. 29, 2013
	Contract	Contract				Securities
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of policies owned	607	612
Life insurance policies with aggregate death benefit	$2,931,066,000	$2,954,890,000
Life insurance estimated fair value	388,886,000	302,961,000
Provision for income taxes	125,000	39,000	-39,000
Valuation allowance increase (decrease) during period		56,000	39,000
Pre-conversion tax adjustment	6,295,000
Restricted cash		13,506,000
8.50% Senior Unsecured Convertible Notes Due 2019
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Debt instrument issued					70,700,000
Debt instrument, stated interest rate					8.50%
ASU No. 2013-11
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Provision for income taxes	3,700,000
Valuation allowance increase (decrease) during period	-2,600,000
Pre-conversion tax adjustment	6,295,000
Reclassification of current liability for unrecognized tax benefits to deferred taxes				6,300,000
Revolving Credit Facility
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of policies owned						450
Revolving Credit Facility | Securities Pledged as Collateral
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of policies owned	450
Life insurance policies with aggregate death benefit	2,300,000,000
Life insurance estimated fair value	306,300,000
Contributed by Directors and Officers Liability Insurance Carrier
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Restricted cash		12,500,000
Contributed by the Company
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Restricted cash		$1,000,000

Consolidated_Assets_and_Consol

Consolidated Assets and Consolidated Liabilities of VIEs (Detail) (USD $)	Dec. 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	$314,062	$264,596
Primary Beneficiary Consolidated VIEs, liabilities	146,254	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

Recovered_Sheet3

Consolidation of Variable Interest Entities - Additional Information (Detail) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Apr. 29, 2013
In Thousands, unless otherwise specified	Contract	Contract	Securities
Variable Interest Entity [Line Items]
Number of policies owned	607	612
Life insurance policies with aggregate death benefit	$2,931,066	$2,954,890
Life insurance estimated fair value	388,886	302,961
Revolving Credit Facility
Variable Interest Entity [Line Items]
Number of policies owned			450
Revolving Credit Facility | Securities Pledged as Collateral
Variable Interest Entity [Line Items]
Number of policies owned	450
Life insurance policies with aggregate death benefit	2,300,000
Life insurance estimated fair value	$306,300

Earnings_Per_Share_Additional_

Earnings Per Share - Additional Information (Detail)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares issued	21,402,990	21,237,166	21,206,121
Common stock, shares outstanding	21,402,990	21,237,166	21,206,121

Reconciliation_of_Actual_Basic

Reconciliation of Actual Basic and Diluted Earnings Per Share (Detail) (USD $)	3 Months Ended										12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014		Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014		Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Numerator:
Net income (loss) from continuing operations											($5,151)		$51,823		($42,019)
Net income (loss) from discontinued operations											-369		13,509		-2,615
Net income (loss)	$8,712		($4,264)	($6,281)	($3,318)	[1]	$3,899	$6,106	$47,154	($5,336)	($5,520)		$65,332		($44,634)
Basic income (loss) per common share:
Basic income (loss) per share from continuing operations											($0.24)		$2.44		($1.98)
Basic income (loss) per share from discontinued operations											($0.02)		$0.64		($0.12)
Basic income (loss) per share available to common shareholders	$0.41		($0.20)	($0.29)	($0.16)		$0.18	$0.29	$2.22	($0.25)	($0.26)		$3.08		($2.10)
Diluted income (loss) per common share:
Diluted income (loss) per share from continuing operations											($0.24)	[2],[3],[4]	$2.44	[2],[3],[4]	($1.98)	[2],[3],[4]
Diluted income (loss) per share from discontinued operations											($0.02)	[2],[3],[4]	$0.64	[2],[3],[4]	($0.12)	[2],[3],[4]
Diluted income (loss) per share available to common shareholders	$0.32	[5]	($0.20)	($0.29)	($0.16)		$0.18	$0.29	$2.22	($0.25)	($0.26)	[2],[3],[4]	$3.08	[2],[3],[4]	($2.10)	[2],[3],[4]
Denominator:
Basic											21,354,567		21,216,487		21,205,747
Add: Restricted stock													2,451
Diluted											21,354,567	[2],[3],[4]	21,218,938	[2],[3],[4]	21,205,747	[2],[3],[4]
[1]	The Company recorded an income tax expense of $3.7 million, in the first quarter of 2014 upon the adoption of ASU 2013-11.
[2]	The computation of diluted EPS did not include 807,949 options and 6,240,521 warrants, 41,060 shares of restricted stock, up to 10,464,941 shares of underlying common stock issuable upon conversion of the Convertible Notes and 323,500 performance shares for the year ended December 31, 2014, as the effect of their inclusion would have been anti-dilutive.
[3]	The computation of diluted EPS did not include 831,282 options and 4,240,521 warrants for the year ended December 31, 2013, as the effect of their inclusion would have been anti-dilutive. The computation of diluted EPS included 2,451 incremental shares of the 17,286 unvested restricted stock outstanding as of December 31, 2013.
[4]	The computation of diluted EPS did not include 487,314 options and 4,240,521 warrants for the year ended December 31, 2012, as the effect of their inclusion would have been anti-dilutive.
[5]	The sum of the diluted earnings per share amounts for each quarter in fiscal 2014 do not equal the amount presented in the statement of operations for the year ended December 31, 2014 due to the Company having a net loss for the year ended December 31, 2014 and therefore all common stock equivalents were antidilutive.

Reconciliation_of_Actual_Basic1

Reconciliation of Actual Basic and Diluted Earnings Per Share (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Incremental restricted shares in computation of diluted earnings per share		2,451
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	807,949	831,282	487,314
Warrant
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	6,240,521	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	41,060
Incremental restricted shares in computation of diluted earnings per share		2,451
Unvested restricted stock outstanding		17,286
Performance Shares
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	323,500
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

Recovered_Sheet4

Gain on Maturities of Life Settlements with Subrogation Rights - Additional Information (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012
Insurance Risks [Line Items]
Gain on maturities of life settlements with subrogation rights, net	$6,090

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)	0 Months Ended	1 Months Ended	12 Months Ended				0 Months Ended
	Feb. 11, 2011	Apr. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Apr. 01, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding and unexercised, weighted average price			$8.50	$8.46
Options granted			0
Options granted strike price			$0
Stock-based compensation expense			$956,000	$1,442,000	$309,000
Options outstanding and unexercised			807,949	831,282
Remaining unamortized amounts will be expensed during 2015			233,000
Expected issuance of warrants for shares		2,000,000
Exercise price of warrants	14.51		10.75
Warrant expiration period	7 years
Warrant vesting period	4 years
Estimated Fair Value Of Warrants			5,400,000
Common stock warrants term			5 years
Including Overallotment Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of warrants			14.51
Warrants issued			3,180,391
Maximum | Including Overallotment Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected issuance of warrants for shares	4,240,521
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average daily trading closing price			$8.50
Average daily trading closing price, period			45 days
Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock reserved for future grant			1,200,000
Options outstanding and unexercised, weighted average price			$8.50			$10.75
Options outstanding and unexercised, expiry period						7 years
Options outstanding and unexercised, vesting period						3 years
Options granted				545,000
Options granted strike price				$6.94
Options outstanding and unexercised			807,949
Unrestricted Stock | Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted							13,759
Fair value of stock granted							57,000
Stock Options | Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			765,000	1,300,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted			41,060
Stock vested			17,286
Restricted stock, aggregate intrinsic value			268,000
Restricted stock, weighted average remaining life			5 months 5 days
Restricted Stock | Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding and unexercised, vesting period			1 year
Stock granted			41,060
Fair value of stock granted			242,233
Stock-based compensation expense			191,000	69,000
Stock vested				17,286
Fair value of stock vested				120,138
Restricted Stock | Omnibus Plan | Restricted Stock One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			52,000
Restricted Stock | Omnibus Plan | Restricted Stock Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$139,000
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock granted			323,500
Stock vested			0
Performance Shares | Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding and unexercised, vesting period			1 year
Stock granted			323,500
Stock granted, subject to shareholders' approval of an amendment and restatement			150,000
Performance Shares | Omnibus Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Actual shares to be issued			150.00%
Performance Shares | Omnibus Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Actual shares to be issued			0.00%

Assumptions_Used_to_Estimate_F

Assumptions Used to Estimate Fair Values of Options Awarded (Detail)	12 Months Ended
	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected Volatility	65.50%
Expected Dividend	0.00%
Expected Term in Years	4 years 3 months
Risk Free Rate	0.75%

Common_Stock_Options_Activity_

Common Stock Options Activity (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Number of Shares
Options outstanding, Beginning Balance	831,282
Options granted	0
Options exercised	0
Options forfeited	-4,340
Options expired	-18,993
Options outstanding, Ending Balance	807,949	831,282
Exercisable at end of period	650,913
Unvested at end of period	157,036
Weighted Average Price per Share
Options outstanding, Beginning Balance	$8.46
Options granted	$0
Options exercised	$0
Options forfeited	$6.94
Options expired	$7.04
Options outstanding, Ending Balance	$8.50	$8.46
Exercisable at end of period	$8.88
Unvested at end of period	$6.94
Weighted Average Remaining Contractual Term
Options expired	5 years 4 months 13 days
Options outstanding, Beginning Balance	4 years 5 months 23 days	5 years 6 months 4 days
Exercisable at end of period	4 years 3 months
Unvested at end of period	5 years 5 months 5 days
Aggregate Intrinsic Value
Options outstanding, Beginning Balance	$0
Options granted	0
Options exercised	0
Options forfeited	0
Options expired	0
Options outstanding, Ending Balance	0	0
Exercisable at end of period	0
Unvested at end of period	$0

Activity_of_Unvested_Restricte

Activity of Unvested Restricted Stock Common Shares (Detail) (Restricted Stock)	12 Months Ended
	Dec. 31, 2014
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance	17,286
Granted	41,060
Vested	-17,286
Forfeited	0
Common Unvested Shares outstanding, Ending Balance	41,060

Activity_of_Performance_Share_

Activity of Performance Share Awards (Detail) (Performance Shares)	12 Months Ended
	Dec. 31, 2014
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded	323,500
Vested	0
Forfeited	0
Common Unvested Shares outstanding, Ending Balance	323,500

Discontinued_Operations_Additi

Discontinued Operations - Additional Information (Detail) (Structured settlements, USD $)	0 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 $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total income	$192	$11,331	$13,995
Total expenses	-793	-9,133	-16,610
Income (loss) before income taxes	-601	2,198	-2,615
Income tax benefit	232
Income (loss) from discontinued operations, net of income taxes	-369	2,198	-2,615
Gain on disposal of discontinued operations, net of income taxes		11,311
Net income (loss) from discontinued operations	($369)	$13,509	($2,615)

Recovered_Sheet5

Investment in Life Settlements (Life Insurance Policies) - Additional Information (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
	Contract	Contract
Life Insurance Premiums and Related Investment Income [Line Items]
Number of policies owned	607	612
Life insurance estimated fair value	$388,886	$302,961
Average life expectancy of insured	10 years 8 months 12 days	11 years 7 months 6 days
Estimated future premium payments	$1,419,777

Investments_in_Life_Settlement

Investments in Life Settlements (Detail) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Contract	Contract
Number of Life Settlement Contracts
0-1	0	0
2-Jan	4
3-Feb	10	6
4-Mar	16	10
5-Apr	19	8
Thereafter	558	588
Total	607	612
Fair Value
0-1	$0	$0
2-Jan	9,227
3-Feb	23,202	8,489
4-Mar	29,531	14,171
5-Apr	23,012	13,529
Thereafter	303,914	266,772
Total	388,886	302,961
Face Value
0-1	0	0
2-Jan	12,728
3-Feb	45,852	16,875
4-Mar	67,735	38,100
5-Apr	65,614	40,250
Thereafter	2,739,137	2,859,665
Total	$2,931,066	$2,954,890

Estimated_Premiums_to_be_Paid_

Estimated Premiums to be Paid (Detail) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified
Life Insurance Premiums and Related Investment Income [Line Items]
2015	$56,846
2016	60,394
2017	66,679
2018	70,583
2019	78,426
Thereafter	1,086,849
Estimated future premium payments	$1,419,777

Termination_Agreement_Addition

Termination Agreement - Additional Information (Detail) (USD $)	12 Months Ended			1 Months Ended	6 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Apr. 30, 2013	Jun. 30, 2013
	Contract	Contract		Contract	Contract
Debt Instrument [Line Items]
Life insurance, number of policies	607	612
Life insurance policies with aggregate death benefit	$2,931,066,000	$2,954,890,000
Number of policies	39
Life insurance estimated fair value	388,886,000	302,961,000
Unrealized gain in investment in life settlements	44,128,000	88,686,000	-5,660,000
CTL Holdings LLC
Debt Instrument [Line Items]
Life insurance, number of policies				93
Business acquisition purchase consideration				7,000,000
Life insurance policies with aggregate death benefit				340,000,000
Termination Agreement
Debt Instrument [Line Items]
Release Payment				48,500,000
Termination Agreement | CTL Holdings LLC
Debt Instrument [Line Items]
Life insurance policies with aggregate death benefit					1,900,000,000
Number of policies					402
Life insurance estimated fair value					139,700,000
Unrealized gain in investment in life settlements					65,200,000
Termination Agreement | Life Insurance
Debt Instrument [Line Items]
Life insurance, number of policies				323
Life insurance policies with aggregate death benefit as contingent assets	$1,600,000,000

Revolving_Credit_Facility_Addi

Revolving Credit Facility - Additional Information (Detail) (USD $)	12 Months Ended			0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	16-May-14	Apr. 29, 2013	Sep. 30, 2014
	Contract	Contract
Debt Instrument [Line Items]
Number of policies owned	607	612
Life insurance policies with aggregate death benefit	$2,931,066,000	$2,954,890,000
Life insurance estimated fair value	388,886,000	302,961,000
Interest expense on the facility	16,245,000	13,657,000	1,255,000
Interest expense withheld from borrowings by lender	6,716,000	2,378,000
Interest paid	5,414,000	1,270,000	6,746,000
Revolving Credit Facility debt, at estimated fair value	145,831,000	123,847,000
Revolving Credit Facility
Debt Instrument [Line Items]
Portfolio of life insurance	162,500,000				300,000,000
Percentage of remaining proceeds					100.00%
Number of policies owned					450
Line of credit facility, maximum borrowing capacity						139,300,000
Line of credit facility, remaining borrowing capacity						1,900,000
Collateral pledge percentage for distributions to be altered					25.00%
Base rate				0.50%
Debt instrument effective rate	5.50%
Interest expense on the facility	8,000,000
Interest expense withheld from borrowings by lender	5,800,000
Interest paid	2,200,000
Credit agreement expiration date				28-Apr-28
Revolving Credit Facility debt, at estimated fair value	145,831,000
Revolving Credit Facility debt, outstanding	160,700,000
Revolving Credit Facility | Maintenance Costs
Debt Instrument [Line Items]
Line of credit borrowing base percentage				100.00%
Revolving Credit Facility | Accrued and Unpaid Interest
Debt Instrument [Line Items]
Line of credit borrowing base percentage				100.00%
Revolving Credit Facility | Other fees and expense
Debt Instrument [Line Items]
Line of credit borrowing base percentage				100.00%
Revolving Credit Facility | Policies pledged as collateral as determined by the lenders
Debt Instrument [Line Items]
Line of credit borrowing base percentage				75.00%
Revolving Credit Facility | Policies pledged as collateral excluding certain specified life insurance policies
Debt Instrument [Line Items]
Line of credit borrowing base percentage				50.00%
Revolving Credit Facility | Securities Pledged as Collateral
Debt Instrument [Line Items]
Number of policies owned	450
Life insurance policies with aggregate death benefit	2,300,000,000
Life insurance estimated fair value	306,300,000
Revolving Credit Facility | Floor Rate
Debt Instrument [Line Items]
Basis spread on variable rate				1.50%
Revolving Credit Facility | Applicable Margin
Debt Instrument [Line Items]
Basis spread on variable rate				4.00%
Revolving Credit Facility | Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate				0.75%
White Eagle Asset Portfolio, LLC | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility period					15 years
Revolving credit facility effective date					29-Apr-13
Portfolio of life insurance				300,000,000
Percentage of remaining proceeds					50.00%
Proceeds to be paid to White Eagle after payment of loan					$76,100,000

850_Senior_Unsecured_Convertib

8.50% Senior Unsecured Convertible Notes - Additional Information (Detail) (USD $)	12 Months Ended		1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Feb. 28, 2014	Sep. 30, 2014	Jun. 05, 2014
				D
				Director
Debt Instrument [Line Items]
Deferred tax asset, conversion derivative liability	$6,500,000		$6,500,000
Senior unsecured convertible notes, net of discount	55,881,000		55,881,000
Debt instrument origination cost	3,936,000		3,936,000
Debt issuance cost		10,340,000
Change in fair value of conversion derivative liability	-6,759,000
8.50% Senior Unsecured Convertible Notes Due 2019
Debt Instrument [Line Items]
Debt instrument issued				70,700,000
Debt instrument, interest rate				8.50%
Debt instrument, due date	2019
Debt instrument, issuance date				21-Feb-14
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, 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%
Conversion derivative liability, at estimated fair value						23,700,000
Senior unsecured convertible notes, net of discount					55,900,000
Unamortized debt discount					14,900,000
Debt instrument origination cost					2,200,000
Interest expense of notes			7,500,000
Interest			5,200,000
Amortizing debt discounts			2,000,000
Debt issuance cost			332,000
Change in fair value of conversion derivative liability	-6,800,000
8.50% Senior Unsecured Convertible Notes Due 2019 | Bulldog Investors Llc
Debt Instrument [Line Items]
Debt instrument issued				9,200,000
8.50% Senior Unsecured Convertible Notes Due 2019 | Reclassifications To Additional Paid In Capital
Debt Instrument [Line Items]
Unamortized transaction costs						756,000
Deferred tax asset, conversion derivative liability						$8,800,000

Fair_Value_of_Conversion_Deriv

Fair Value of Conversion Derivative Liability (Detail) (8.50% Senior Unsecured Convertible Notes Due 2019, Conversion derivative liability)	0 Months Ended
	Jun. 05, 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 8 months 12 days
Risk Free Rate	1.50%

12875_Senior_Secured_Notes_Add

12.875% Senior Secured Notes - Additional Information (Detail) (USD $)	12 Months Ended	0 Months Ended	12 Months Ended
	Dec. 31, 2013	Nov. 10, 2014	Dec. 31, 2014
	Contract
Debt Instrument [Line Items]
Cash and cash equivalents	$14,722,000		$51,166,000
Number of policies owned	612		607
Life insurance policies with aggregate death benefit	2,954,890,000		2,931,066,000
Life insurance estimated fair value	302,961,000		388,886,000
Senior secured notes, net of discount			24,036,000
Debt issuance cost	10,340,000
12.875% Senior Secured Notes Due 2017
Debt Instrument [Line Items]
Debt instrument, interest rate		12.88%
Debt instrument, maturity date		10-Nov-17
Debt instrument, redemption description			The Secured Notes may not be optionally redeemed by the Company for one year from the Initial Closing Date.
Debt instrument, early redemption period		1 year
Debt instrument, redemption notice period		60 days
Debt instrument, increments		25,000,000
Fees and expenses paid		1,800,000
Debt instrument, draw down fee percentage		1.00%
Debt instrument, percentage of monthly unused fee on unissued notes		1.00%
Interest expense			694,000
Interest			592,000
Amortizing debt discounts			36,000
Debt issuance cost			66,000
12.875% Senior Secured Notes Due 2017 | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Percentage of principal amount of debt redemption		106.00%
12.875% Senior Secured Notes Due 2017 | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Percentage of principal amount of debt redemption		104.00%
12.875% Senior Secured Notes Due 2017 | Extended Term
Debt Instrument [Line Items]
Debt instrument, interest rate		14.50%
Debt instrument, maturity term		12 months
12.875% Senior Secured Notes Due 2017 | May be issued if the Company deploy $25 million in investments following the Initial Closing Date
Debt Instrument [Line Items]
Debt instrument, face amount		25,000,000
12.875% Senior Secured Notes Due 2017 | May be issued if the Company satisfies certain book and market value targets
Debt Instrument [Line Items]
Debt instrument, face amount		50,000,000
12.875% Senior Secured Notes Due 2017 | Maximum
Debt Instrument [Line Items]
Debt instrument, face amount		100,000,000
12.875% Senior Secured Notes Due 2017 | Maximum | May be issued during the period ending on the 12-month anniversary of the Initial Closing Date
Debt Instrument [Line Items]
Debt instrument, face amount		75,000,000
12.875% Senior Secured Notes Due 2017 | Securities Pledged as Collateral
Debt Instrument [Line Items]
Debt instrument, interest rate			12.88%
Percentage of first tier foreign subsidiaries equity interests pledge to secure debt		65.00%
Number of policies owned			157
Life insurance policies with aggregate death benefit			679,200,000
Life insurance estimated fair value			82,600,000
12.875% Senior Secured Notes Due 2017 | Debt Covenant
Debt Instrument [Line Items]
Minimum net worth		100,000,000
Cash and cash equivalents		20,000,000
12.875% Senior Secured Notes Due 2017 | Indaba Capital Management, L.P.
Debt Instrument [Line Items]
Debt instrument, face amount		$25,000,000
Secured notes issuance price as percentage of face amount		96.00%
Number of directors that might be appointed in the board		1
Percentage of voting interest that might be acquired by the appointed director		5.00%

Assets_And_Liabilities_Measure

Assets And Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $)	Dec. 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	$388,886	$302,961
Structured settlement receivables	384	660
Assets, Fair Value Disclosure, Total	389,270	303,621
Revolving Credit Facility debt	145,831	123,847
Financial and Nonfinancial Liabilities, Fair Value Disclosure	145,831	123,847
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	388,886	302,961
Structured settlement receivables	384	660
Assets, Fair Value Disclosure, Total	389,270	303,621
Revolving Credit Facility debt	145,831	123,847
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$145,831	$123,847

Quantitative_Information_about

Quantitative Information about Level 3 Fair Value Measurements (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investment in life settlements	$388,886	$302,961
Structured settlements receivables	384	660
Investment in life settlements	2,931,066	2,954,890
Weighted average discount rate	17.77%
Structured settlements
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Weighted average discount rate	8.66%
Revolving Credit Facility
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rate	23.89%
Minimum | Non Premium Financed
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rate	14.80%
Minimum | Premium Financed
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rate	16.05%
Maximum | Non Premium Financed
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rate	20.80%
Maximum | Premium Financed
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rate	25.80%
Fair Value, Inputs, Level 3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investment in life settlements	388,886	302,961
Structured settlements receivables	384	660
Investment in life settlements	2,931,066
Note payable	145,831
Fair Value, Inputs, Level 3 | Non Premium Financed
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investment in life settlements	59,505
Investment in life settlements	254,287
Fair Value, Inputs, Level 3 | Premium Financed
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investment in life settlements	329,381
Investment in life settlements	$2,676,779
Fair Value, Inputs, Level 3 | Life Finance
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Valuation Technique	Discounted cash flow
Weighted average life expectancy valuation period	10 years 8 months 12 days
Weighted average discount rate	17.77%
Fair Value, Inputs, Level 3 | Life Finance | Non Premium Financed
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Valuation Technique	Discounted cash flow
Weighted average life expectancy valuation period	7 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	Discounted cash flow
Weighted average life expectancy valuation period	11 years
Fair Value, Inputs, Level 3 | Structured settlements
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Valuation Technique	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	Discounted cash flow
Weighted average life expectancy valuation period	10 years 4 months 24 days
Weighted average discount rate	23.89%
Fair Value, Inputs, Level 3 | Minimum | Life Finance | Non Premium Financed
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rate	14.80%
Fair Value, Inputs, Level 3 | Minimum | Life Finance | Premium Financed
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rate	16.05%
Fair Value, Inputs, Level 3 | Maximum | Life Finance | Non Premium Financed
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rate	20.80%
Fair Value, Inputs, Level 3 | Maximum | Life Finance | Premium Financed
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rate	25.80%

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)	12 Months Ended	0 Months Ended
	Dec. 31, 2014	Apr. 29, 2013	Dec. 31, 2013	Mar. 31, 2013
	Contract		Contract
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Mortality rate	100.00%
Life expectancy, percentage	17.74%
Number of life insurance policies	607		612
Life insurance estimated fair value	$388,886,000		$302,961,000
Weighted average discount rate	17.77%
Settlements with estimated fair value	384,000		660,000
Revolving Credit Facility debt, at estimated fair value	145,831,000		123,847,000
Structured settlements
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of life insurance policies	17
Weighted average discount rate	8.66%
21st Services
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Life expectancy, percentage				19.00%
Noninvestment grade
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of life insurance policies	19
Additional basis point risk premium	3.00%
Premium Financed
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of life insurance policies	553
Premium Financed | Minimum
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rates	16.05%
Premium Financed | Maximum
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rates	25.80%
Non Premium Financed
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of life insurance policies	54
Non Premium Financed | Minimum
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rates	14.80%
Non Premium Financed | Maximum
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Discount rates	20.80%
Life Expectancy Update Received
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of life insurance policies	477
Contracts Used to Calculate Life Expectancy Extension
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of life insurance policies	441
Impaired life bearing
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Mortality rate	200.00%
Revolving Credit Facility
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of life insurance policies		450
Discount rates	23.89%
Percentage of remaining proceeds		100.00%
Revolving Credit Facility debt, at estimated fair value	145,831,000
Revolving Credit Facility debt, outstanding	160,700,000
Revolving Credit Facility | White Eagle Asset Portfolio, LLC
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage of remaining proceeds		50.00%
Proceeds to be paid to White Eagle after payment of loan		76,100,000

Changes_in_Life_Expectancy_Use

Changes in Life Expectancy Used to Estimate Fair Value (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value	$388,886	$302,961
Change in Value	-426	-1,990	151
+6 Life Expectancy Months Adjustment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value	327,556
Change in Value	-61,330
-6 Life Expectancy Months Adjustment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value	455,430
Change in Value	$66,544

Life_Insurance_Issuer_concentr

Life Insurance Issuer concentrations (Detail) (Credit Concentration Risk, Moody's, A1 Rating, Standard & Poor's, AA- Rating)	12 Months Ended
	Dec. 31, 2014
Lincoln National Life Insurance Company | 10% of total fair value of our investments in life settlements
Concentration Risk [Line Items]
Concentrations risk percentage	22.80%
Lincoln National Life Insurance Company | Life insurance issuer concentrations that exceed 10% of total death benefit
Concentration Risk [Line Items]
Concentrations risk percentage	20.10%
Transamerica Life Insurance Company | 10% of total fair value of our investments in life settlements
Concentration Risk [Line Items]
Concentrations risk percentage	22.00%
Transamerica Life Insurance Company | Life insurance issuer concentrations that exceed 10% of total death benefit
Concentration Risk [Line Items]
Concentrations risk percentage	20.50%

Changes_in_Weighted_Average_Di

Changes in Weighted Average Discount Rate Used to Estimate Fair Value (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average Rate	17.77%
Value	$388,886	$302,961
Change in Value	-426	-1,990	151
.50% Decrease in Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average Rate	17.27%
Value	399,523
Change in Value	10,637
.50% Increase in Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average Rate	18.27%
Value	378,709
Change in Value	($10,177)

Changes_in_Life_Expectancy_Use1

Changes in Life Expectancy Used to Estimate Fair Value of Revolving Credit Facility (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value	$145,831	$123,847
Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value	145,831
+6 Life Expectancy Months Adjustment | Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value	124,054
Change in Value	-21,777
-6 Life Expectancy Months Adjustment | Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value	168,975
Change in Value	$23,144

Changes_in_Weighted_Average_Di1

Changes in Weighted Average Discount Rate Used to Estimate Fair Value of Revolving Credit Facility (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Value	$145,831	$123,847
Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	23.89%
Value	145,831
.50% Decrease in Discount Rate | Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	23.39%
Value	148,613
Change in Value	2,782
.50% Increase in Discount Rate | Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	24.39%
Value	143,142
Change in Value	($2,689)

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 $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 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	16,296	55,500
Acquired in foreclosure		3,168
Change in fair value	44,128	88,686
Matured/lapsed/sold polices	-29,957	-22,955
Premiums paid	55,458	65,121
Transfers into level 3	0	0
Transfer out of level 3	0	0
Ending Balance	388,886	302,961
Changes in fair value included in earnings for the period relating to assets held	22,597	75,673
Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	123,847
Initial advance under the revolving credit facility		83,020
Draws under the revolving credit facility	57,233	50,200
Payments on credit facility	-29,777
Unrealized change in fair value	-5,472	-9,373
Transfers into level 3	0	0
Transfer out of level 3	0	0
Ending balance	$145,831	$123,847

Recovered_Sheet6

Commitments and Contingencies - Additional Information (Detail) (USD $)	12 Months Ended			0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jul. 29, 2013	Apr. 18, 2013
	Contract				Contract
Commitments and Contingencies [Line Items]
Percentage of annual increase of base rent	3.00%
Annual base rent	$225,100
Lease expiration date	30-Sep-20
Rent expense under operating lease	513,000	438,000	528,000
Indemnification expenses	2,100,000	2,800,000
Number of policies	39
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 remaining term 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 expense sanctioned by court on subsidiary Imperial Premium Finance (IPF)	850,000	850,000
Percentage of outstanding shares to be obtained written consent	3.00%
Pending Litigation
Commitments and Contingencies [Line Items]
Number of policies					28
Litigation-related fees	5,000,000	4,500,000
Pending Litigation | Minimum
Commitments and Contingencies [Line Items]
Compensatory damages sought in addition to an award of punitive damages				$30,000,000

Future_Minimum_Payments_under_

Future Minimum Payments under Operating Leases (Detail) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified
Year Ending December 31,
2015	$171
2016	234
2017	240
2018	248
2019	255
Thereafter	196
Operating Leases, Future Minimum Payments Due, Total	$1,344

Stockholders_Equity_Additional

Stockholders' Equity - Additional Information (Detail) (USD $)	1 Months Ended	12 Months Ended	3 Months Ended	12 Months Ended
	Apr. 30, 2014	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2011	Dec. 31, 2013	Feb. 11, 2011
Stockholders Equity [Line Items]
Options Outstanding		807,949			831,282
Increase in additional paid-in-capital due to reclassification of embedded derivative		$14,069,000
Expected issuance of warrants for shares	2,000,000
Estimated Fair Value Of Warrants		5,400,000
Common stock warrants term		5 years
Exercise price of warrants		10.75				14.51
ASU No. 2013-11
Stockholders Equity [Line Items]
Increase to additional paid-in-capital		$6,300,000
Minimum
Stockholders Equity [Line Items]
Average daily trading closing price		$8.50
Average daily trading closing price, period		45 days
Restricted Stock
Stockholders Equity [Line Items]
Stock granted		41,060
Performance Shares
Stockholders Equity [Line Items]
Stock granted		323,500
Derivative Actions | Common Stock
Stockholders Equity [Line Items]
Common stock issued for legal settlement			125,628
Omnibus Plan
Stockholders Equity [Line Items]
Shares of common stock reserved for future grant		1,200,000
Options Outstanding		807,949
Stock vesting period				3 years
Securities remaining for future issuance		316,439
Omnibus Plan | Restricted Stock
Stockholders Equity [Line Items]
Stock granted		41,060
Stock vesting period		1 year
Omnibus Plan | Performance Shares
Stockholders Equity [Line Items]
Stock granted		323,500
Stock granted, subject to shareholders' approval of an amendment and restatement		150,000
Stock vesting period		1 year
Omnibus Plan | Performance Shares | Minimum
Stockholders Equity [Line Items]
Actual shares to be issued		0.00%
Omnibus Plan | Performance Shares | Maximum
Stockholders Equity [Line Items]
Actual shares to be issued		150.00%

Employee_Benefit_Plan_Addition

Employee Benefit Plan - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	Y
Defined Contribution Benefit Plans [Line Items]
401(k) plan that covers employees eligible age	18
401(k) plan that covers employees service period for eligible	3 months
Employer contributions	$0	$0	$0

Summary_Quarterly_Financial_Da

Summary Quarterly Financial Data (Detail) (USD $)	3 Months Ended										12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014		Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014		Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Quarterly Financial Data [Line Items]
Total income	$24,835		($3,617)	$8,996	$13,602		$6,472	$14,809	$65,637	$2,160	$43,816		$89,078		$5,088
(Loss)/income from continuing operations before income taxes	11,289		-6,499	-10,474	658		3,898	6,106	47,154	-5,296	-5,026		51,862		-42,058
Net (loss)/income from continuing operations	$8,712		($4,264)	($6,281)	($3,318)	[1]	$3,899	$6,106	$47,154	($5,336)	($5,520)		$65,332		($44,634)
Basic	$0.41		($0.20)	($0.29)	($0.16)		$0.18	$0.29	$2.22	($0.25)	($0.26)		$3.08		($2.10)
Diluted	$0.32	[2]	($0.20)	($0.29)	($0.16)		$0.18	$0.29	$2.22	($0.25)	($0.26)	[3],[4],[5]	$3.08	[3],[4],[5]	($2.10)	[3],[4],[5]
[1]	The Company recorded an income tax expense of $3.7 million, in the first quarter of 2014 upon the adoption of ASU 2013-11.
[2]	The sum of the diluted earnings per share amounts for each quarter in fiscal 2014 do not equal the amount presented in the statement of operations for the year ended December 31, 2014 due to the Company having a net loss for the year ended December 31, 2014 and therefore all common stock equivalents were antidilutive.
[3]	The computation of diluted EPS did not include 807,949 options and 6,240,521 warrants, 41,060 shares of restricted stock, up to 10,464,941 shares of underlying common stock issuable upon conversion of the Convertible Notes and 323,500 performance shares for the year ended December 31, 2014, as the effect of their inclusion would have been anti-dilutive.
[4]	The computation of diluted EPS did not include 831,282 options and 4,240,521 warrants for the year ended December 31, 2013, as the effect of their inclusion would have been anti-dilutive. The computation of diluted EPS included 2,451 incremental shares of the 17,286 unvested restricted stock outstanding as of December 31, 2013.
[5]	The computation of diluted EPS did not include 487,314 options and 4,240,521 warrants for the year ended December 31, 2012, as the effect of their inclusion would have been anti-dilutive.

Summary_Quarterly_Financial_Da1

Summary Quarterly Financial Data (Parenthetical) (Detail) (USD $)	12 Months Ended	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Mar. 31, 2014
Quarterly Financial Data [Line Items]
Adoption of ASU 2013-11	$6,295
ASU No. 2013-11
Quarterly Financial Data [Line Items]
Adoption of ASU 2013-11		$3,700

Provision_Benefit_for_Income_T

Provision (Benefit) for Income Taxes from Continuing Operations (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Provision For Income Taxes [Line Items]
Continuing operations	$125	$39	($39)
Discontinued operations	-232
Provision (benefit) for income taxes	-107	39	-39
Current
Federal	0	0	0
State	0	0	0
Current Income Tax Expense (Benefit)	0	0	0
Deferred
Federal	5,214	17,182	-13,513
State	-2,522	2,857	-2,247
Deferred Income Tax Expense (Benefit), Total	2,692	20,039	-15,760
Valuation allowance (decrease) increase	-2,567	-20,000	15,721
Provision (benefit) for income taxes	$125	$39	($39)

US_and_Foreign_Components_of_I

U.S. and Foreign Components of Income (Loss) From Continuing Operations before Income Taxes (Detail) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule of Income Before Income Tax [Line Items]
U.S.									($10,824)	$51,862	($42,058)
Foreign									5,798
(Loss) income from continuing operations before income taxes	$11,289	($6,499)	($10,474)	$658	$3,898	$6,106	$47,154	($5,296)	($5,026)	$51,862	($42,058)

Difference_between_Actual_Prov

Difference between Actual Provision (Benefit) for Income Tax and Federal Expected Income Tax Provision (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Rate Reconciliation [Line Items]
Tax provision (benefit) at statutory rate	($1,759)	$18,152	($14,720)
Increase (decrease) in taxes resulting from:
State tax (net of federal benefit)	-364	1,857	-1,462
Impact of rate changes	-1,851
Permanent items	371	30	422
Adoption of ASU 2013-11	6,295
Valuation allowance (decrease) increase	-2,567	-20,000	15,721
Provision (benefit) for income taxes	$125	$39	($39)
Tax provision (benefit) at statutory rate	35.00%	35.00%	35.00%
Increase (decrease) in taxes resulting from:
State tax (net of federal benefit)	7.24%	3.58%	3.48%
Impact of rate changes	36.84%
Permanent items	-7.40%	0.06%	-1.00%
Adoption of ASU 2013-11	-125.26%
Valuation allowance (decrease) increase	51.08%	-38.56%	-37.39%
Provision (benefit) for income taxes	-2.50%	0.08%	0.09%

Deferred_Tax_Assets_And_Liabil

Deferred Tax Assets And Liabilities (Detail) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Deferred tax assets:
Federal and State net operating loss carryforward	$28,864	$28,639
Litigation reserves	328	2,990
Revolving credit facility	1,735	1,038
Other	722	1,226
Total gross deferred tax assets	31,649	33,893
Less valuation allowance		-2,567
Total deferred tax assets	31,649	31,326
Deferred tax liabilities:
Unrealized gains on life and structured settlements	30,201	26,830
Gain on structured settlements deferred for tax purposes	4,443	4,496
Convertible debt discount	5,733
Total deferred tax liabilities	40,377	31,326
Total net deferred tax asset (liability)	($8,728)

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014	Jun. 05, 2014
Income Taxes [Line Items]
Deferred tax asset, conversion derivative liability			$6,500,000
Deferred tax liability			6,500,000
Deferred tax valuation allowance Increased (reduced)	56,000	39,000
Net operating loss carryforward	28,639,000		28,864,000
Decrease in effective tax rate due to recognition of unrecognized tax benefits			6,295,000
Federal and State
Income Taxes [Line Items]
Net operating loss carryforward			80,000,000
Net operating loss expiration Year			2031
Prior to the Company's initial public offering in 2011
Income Taxes [Line Items]
Net operating loss carryforward			11,200,000
Net operating loss expiration Year			2028
8.50% Senior Unsecured Convertible Notes Due 2019 | Reclassifications To Additional Paid In Capital
Income Taxes [Line Items]
Deferred tax asset, conversion derivative liability				$8,800,000

Reconciliation_of_Total_Amount

Reconciliation of Total Amounts of Unrecognized Benefits (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Rate Reconciliation [Line Items]
Balance as of beginning of period	$6,295	$6,295	$6,295
Additions based on tax positions taken in the current year	0	0	0
Reductions of tax positions for prior years	0	0	0
Balance as of end of period	$6,295	$6,295	$6,295

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Detail) (Subsequent Event, 12.875% Senior Secured Notes Due 2017, USD $)	Jan. 21, 2015
Subsequent Event | 12.875% Senior Secured Notes Due 2017
Subsequent Event [Line Items]
Debt instrument, face amount	$25,000,000
Secured notes issuance price as percentage of face amount	96.00%
Estimated fees and expenses payable	$275,000