JG Wentworth (Orchard Acquisition)

The J.G. Wentworth Company and its affiliated debtors are a leading diversified consumer financial services company focused on mortgage lending, personal and business lending, structured settlements, and prepaid cards.  The J.G. Wentworth debtors commenced their bankruptcy cases to effectuate a recapitalization of their balance sheet on a consensual basis in accordance with the terms of a restructuring support agreement with their primary stakeholders.  Following a mere 36 days, the J.G. Wentworth debtors’ pre-packaged plan of reorganization was confirmed and the company emerged from bankruptcy a week later.  Through the plan, the J.G. Wentworth debtors’ prepetition funded debt, which totaled $449.5 million, was eliminated and the company received $70 million in new funding.  Young Conaway was retained as co-counsel with Simpson Thacher & Bartlett LLP.