Litigation

The following short  statement was posted by Andrew Cravenho of Settlement Quotes, LLC about JG Wentworth Chapter 11 in a post August 8, 2009

"After receiving approval by a Delaware judge, JG Wentworth received $100 million from their parent, private equity firm JLL Partners of New York. This boost significantly helps JG Wentworth continue to operate their ongoing business.

Now that JG Wentworth?s bankruptcy plan was accepted, they have zero debt and enough cash to operate for the foreseeable future".

May 20, 2009 Philadephia Business Journal:

The company sought acceptance of its plan from its lenders before what is called a prepackaged filing. More than 90 percent of the term lenders approved, the company said. J.G. Wentworth said the plan will allow it to substantially reduce its debt load while providing the enterprise with $100 million of new equity to support ongoing operations. Its operating units will continue to conduct business without interruption during the reorganization process, which is expected to be completed within roughly 30 days. The company said it also secured a commitment for debtor-in-possession financing to supplement its working capital and provide adequate liquidity during the proceedings.

J.G. Wentworth said its decision to file for Chapter 11 came after an extensive review of alternatives to address pressures from ?extremely challenging capital markets and high borrowing costs?, and was unanimously approved by the company?s board of directors.

?We have recently faced significant challenges due to the well-published disruption of the [asset-backed securities] market,? J.G. Wentworth CEO David Miller said.

Copy of the  Bankruptcy Court Confirmation Order concerning the JG Wentworth Bankruptcy Reorganization:

Download J.G.WentworthLLC2009-PlanConfirmationOrder