MUST READ THIS !!!!! PLEASE STICKIE
JGWE has filed for Chapter 11 bk, a prepackaged form in order to restructure. This we know. Chapter 11 is bk protection in which all assets remain untouched and business as usual. Chapter 7 bk liquidates all assets in order to pay of debt and as a result, the company is done.
Chapter 11 is to prevent chapter 7. Considering new management coming into JG wentworth, its not a financial issue here, its to remove debt and build a stronger company in which 449 million of debt is wiped clean. Company anticipates to emerge out of chapter 11 in january. When that is done, you best believe this will be trading over .1 when you're making over a hundred million in revs every 3 months (over 300 mill so far this year)
RECENT EVENTS IN COMPANY
JG wentworth filed for chapter 11 before in 2009 and emerged out of chapter 11 IN TWO WEEKS. AGAIN ONLY TWO WEEKS because they secured financing. Same situation here. They already have financing secured (70 Million) - this is strictly to remove the debt!! Once all the gimmicks are done with the courts - debt wiped clean- financing kicks in - emerge of out chapter 11 bk - and back to business. "The company filed for bankruptcy in 2009, which was exceptionally short at just two weeks. Buyout firm JLL Partners helped fund J.G. Wentworth’s bankruptcy with an equity injection and now owns about 5 percent of its shares"
--> article link below https://www.reuters.com/article/jg-wentworth-debt/consumer-finance-company-j-g-wentworth-hires-debt-adviser-sources-idUSL1N1G21JM
ALL IMO - looking long term here people are loading