Litigation

IMPORTANT Clarification Concerning Prudential!

By John Darer

Yesterday it was announced that Prudential would be merging two of its business units, Structured Settlements and Defined Benefit Annuities into a single organization. As part of the consolidation two successful middle managers were let go, including Brian Ginty, a Vice-President, under whose leadership Prudential structured settlements recorded its 3 biggest sales years in the two decades of its issuing structured settlement annuities.

In typical irresponsible fashion, non structured settlement broker Rhonda Bentzen of Bentzen Funding Solutions reported the announcement inaccurately as a Prudential "reorganization". Download bentzen_funding_solutions__reorg_at_prudential.pdf

The term "reorganization", WHICH DOES NOT APPLY TO PRUDENTIAL is the altering of a firm's capital, organizational , and or management structure following a plan worked out during bankruptcy proceedings under Chapter 11. The objectives of reorganization are to eliminate the cause of the failure, settle with creditors, and allow the firm to remain in business.

Full post as published by Structured Settlements 4Real on February 26, 2008 (boomark / email).