JG Wentworth Inc., a financial services firm and buyer of deferred payments such as annuities, structured settlements and life insurance policies, filed for Chapter 11 bankruptcy protection on June 1, 2009.
Founded in 1991, J.G. Wentworth is owned by New York-based private equity firm JLL Partners. As part of the reorganization plan, JLL Partners invested $100 million of new equity to support J.G. Wentworth’s ongoing operations. J.G. Wentworth has since emerged from bankruptcy.
Although J.G. Wentworth laid off 120 of its 200 employees and closed its office in Las Vegas due to economic constraints, the Bryn Mawr, Pennsylvania-based company continued to operate during the reorganization process and has since hired new employees.
