Exhibit (a)(1)(L)
Email to Trust and Partnership Interest Holders
Dear Interest Holder —
You are receiving this email because you are a holder of Position Holder Trust Interests of Life Partners Position Holder Trust and/or a holder of IRA Partnership Interests of Life Partners IRA Holder Partnership, LLC.
Life Settlement Liquidity Option, LLC and CFunds Life Settlement, LLC together are offering to purchase up to 105,989,695 of Trust Interests and up to 165,155,385 Partnership Interests for a cash price of $0.16 per Interest, less any tax withholdings and premiums, fees or catch-up payments that you may owe according to your account statements. We refer to these tender offers as the Offer. The Offer presents an opportunity to holders of Trust Interests and Partnership Interests to receive cash for their Interests now, rather than wait for possible distributions from the Trust or the Partnership in the future.
Life Settlement Liquidity Option, LLC (referred to here as the Anchorage Offeror) is an affiliate of Anchorage Capital Group, L.L.C, which has approximately $16.5 billion of assets under management. CFunds Life Settlement, LLC (referred to here as the Contrarian Offeror) is an affiliate of Contrarian Capital Management, L.L.C., an SEC registered investment advisor with approximately $5.3 billion of assets under management.
There have been important changes to the Offer.
The important changes to the Offer that you should be aware of include:
•
The Contrarian Offeror has joined the Anchorage Offeror in the Offer, and has terminated its own tender offers for Interests.
•
The offer price has been increased to $0.16 per Interest (the same price as in the Contrarian offers) from $0.133 per Interest (in each case, subject to certain deductions).
•
The maximum number of Interests to be purchased in the Offer has been reduced to 105,989,695 Trust Interests and 165,155,385 Partnership Interests.
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The expiration date for the Offers has been extended to 5:00 p.m. New York City time on Friday, January 18, 2019.
You should have already received a package in the mail for the Offer, including the Offer to Purchase, a Solicitation/Recommendation Statement on Schedule 14D-9; and a WHITE Assignment Form (for the Trust Interests) or a YELLOW Assignment Form (for the Partnership Interests). You are receiving a supplemental package that includes a Supplement No. 1 to the Offer to Purchase that describes the changes to the Offer in more detail. The supplemental package also includes a letter, which not only summarizes the modified terms of the Offer, but also includes certain codes you will need if you wish to tender over the Internet, as described below.
Ways in which you can tender.
If you have previously tendered your Interests into the Offer, and you do not wish to make any change, you are not required to do anything. Your tender will be considered as being made in accordance with the revised terms of the Offer.
If you have not tendered your Interests and wish to so, or you wish to make a change in the tender that you previously made, we are now offering you a number of ways to do so, as described below.
If you have tendered into the terminated Contrarian offers, or you tendered into the Offer and then withdrew your tender, your tender will be of no effect. If you wish to tender into the pending Offer, you must re-tender.
