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As part of the deal, J.G. Wentworth’sd parent, private equity firm of New York, will invesr $100 million of new equity to supportgongoing operations. It will also provide as much as $35 million for the company to buy loans from lenderxs in exchange for new preferred interests inthe company. The Bryn Pa.-based company sought acceptance of its plan from its lenderes before what is called aprepackaged filing. More than 90 percen t of the termlenders approved, the company J.G.
Wentworth said its decision to file for Chapte r 11 came after an extensive review of alternatives to addrese pressuresfrom “extremely challenging capital markets and high borrowing and was unanimously approved by the company’s board of In December, J.G. Wentworth laid off 120 of its 200 employeesw and closed its LasVegas office. Foundede in 1991, it moved from Philadelphia to Bryn Mawrin 2003.
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