J.G. Wentworth Company (fka JGWEQ)

[big green tractor]

they are playing the commercials nonstop yet the ticker is all stop ...

[getmoreshares]

please let me know if something develops-TIA.
Taking this off the follow list

[getmoreshares]

see if you can sell. tia-- probably best to call-if you want to hold.

[sewer182]

Just checked my Vanguard acc. Shares still there with a value attached to them. But no ticker symbol.

[getmoreshares]

Next CH11 BK on any position- PLEASE HELP others so they DO NOT LOOSE 100% of their money.
Thats What I tried to do-- you will find some that will send you NASTY comments-- but now- here is another perfect example of what happens.
ITS up to YOU to help fellow traders-whether they believe you or not!
repost to keep it on top

[getmoreshares]

it is POSSIBLE they may reissue NEW shares-- BUT-- the old ones are done!. Hard to believe-- But-- thats what happens-- WIPE OUT the former holders!

[getmoreshares]

YES- Thats all folks!

[bullrunner7]

so thats it any shares held by common shareholders we just lost our money ?

[getmoreshares]

Next CH11 BK on any position- PLEASE HELP others so they DO NOT LOOSE 100% of their money.
Thats What I tried to do-- you will find some that will send you NASTY comments-- but now- here is another perfect example of what happens.
ITS up to YOU to help fellow traders-whether they believe you or not!

[big green tractor]

Ok thanks for the info ... ugh oh well nobody to blame but myself for hanging in .

[getmoreshares]

Well- Looks like the prediction was CORRECT- hope peeps took heed.
Any comments?

[Renee]

JGWEQ: BK PLAN effective. All shares cancelled:

http://otce.finra.org/DLDeletions

[ForReal]

Appears that shares have been cancelled as part of bankruptcy agreement. From FINRA Daily List.......

01/25/2018 14:39:37 Bankruptcy Plan Effective/Shares Cancelled 01/25/2018 14:40:00 JGWEQ J.G. Wentworth Company Class A Common Stock Other OTC

[big green tractor]

did it stop trading ?

[getmoreshares]

IMO "news" buyers-- dayflippers?

[big green tractor]

pretty standard BK papers about shares . I guess there is a possibility they come through for commons but not sure how . Then this isn't at no bid either where one would think it would be ... basically I have NO IDEA what to think here and people are buying this today ?

Would love to see this turn around ... If anyone has a clue on what to expect that could be positive I'd like to hear it . No need to tell me the bad I can see that for myself ... lol

[getmoreshares]

LINK??? TIA

[Penny Monster 01]

What does it mean?

[big green tractor]

well looky there BK paperwork received today ... awesome

[big green tractor]

They came out of BK a few years back so.... we have a chance !

[big green tractor]

Starting to get some action here ! Even downward action creates a potential upward swing providing company doesn't go through with BK...

[getmoreshares]

Thanks-- just watching to see what happens.
Hope it does not end up like KM did for me! GL

[big green tractor]

Nope we are all (well anyone left here like me) still siting, waiting , wishing like a Jack Johnson song ...

[getmoreshares]

any update on the BK?

[big green tractor]

Is this the start of an uptrend ...?

[big green tractor]

nice find !

[Chill2]

J.G. Wentworth® Partners with Homes For Our Troops to Build and Donate Specially Adapted, Custom Home for Injured Pennsylvania Veteran https://seekingalpha.com/article/17048090?source=ansh $JGWEQ

[Bankroll423]

The million dollar question is will the common shares be worthless or not?

[big green tractor]

No idea thought it would be over by now tho . Maybe they had some sort of miracle of some kind ? Who knows ... time will tell I guess

[getmoreshares]

very surprised- when is the ch11 effective?

[big green tractor]

Yep still trading !

[getmoreshares]

still trading!

[getmoreshares]

The co will survive-- the common shareholders will not get any value for their holdings.!

[blxil]

Common shares are going to be cancelled as part of the proposed settlement.


They may reissue publicly at a later date, but I'd consider selling and taking what you can save before the stock is cancelled.

It would take nothing short of a miracle for this settlement plan not to be approved. Orchard Acquisition Co. owns majority and helped carve out this settlement plan. It sucks for the shareholders, but maybe the company will survive.

[getmoreshares]

Thanks-- but what about the common shares???? Did not see any specifics. According to that LAST update- they become VOID and have no value- was there any change? TIA

[big green tractor]

J.G. Wentworth Bankruptcy Commitment Letter Approved

BY BRANDY CHETSASON JANUARY 8, 2018


The U.S. Bankruptcy Court approved J.G. Wentworth’s motion for entry of an order authorizing the Debtors to enter into and perform, or cause to perform, the obligations under the commitment letter and related fee letter with respect to the new revolving credit facility (RCF), including the payment of certain fees and expenses, and to provide related indemnity.

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As previously reported, “Subject to and in accordance with the terms and conditions set forth in the Commitment Letter, the New RCF Commitment Party committed to provide the commitment under the New RCF, which shall be evidenced in the New RCF Credit Agreement, pursuant to which the Borrower will obtain a new senior secured revolving credit facility in the maximum aggregate principal amount of $70.0 million and maturing on the date that is four (4) years after the date of the effectiveness of the New RCF ….The interest rates under the New RCF will be (i) at the Borrower’s option, Adjusted LIBOR, plus 5.00% or ABR plus 4.00% and (ii) 3.00% per annum on the average daily undrawn portion of the New RCF, as further described in the Term Sheet….The New RCF Commitment Party will act as sole and exclusive administrative agent and collateral agent.”

In addition, “In accordance with and as contemplated under the RSA and the Plan, as consideration for the New RCF Commitment Party’s commitment to provide the New RCF under the Commitment Letter, the Borrower and the Partnership agreed to pay (or cause to be paid) for the benefit of the New RCF Commitment Party, (a) a commitment fee of 4.00% of the aggregate maximum amount of the New RCF Commitment Party’s Commitment as of the date of the Fee Letter…(b) a closing fee of 4.00% of the aggregate maximum amount of the New RCF Commitment Party’s Commitment as of the date of the Fee Letter….The Commitment is integral to the consummation of the Plan. It ensures that capital required for the funding of the transactions contemplated by the Plan and for the Company’s go-forward business operations post-emergence is committed prior to confirmation. With this commitment secured, the Debtors may proceed quickly and efficiently toward confirmation, and avoid unnecessary and value-destructive delays that would disrupt operations, prolong these cases, and result in additional costs.”

Read more Wentworth bankruptcy news.

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About Brandy Chetsas
Brandy L. Chetsas is editor in chief at Bankrupt Company News. She joined New Generation Research, Inc. in 1998. As Director of Strategic Content, she leverages 20+ years of communications and project management experience for the distressed investing sector–with particular expertise on corporate restructurings via Chapter 11. Brandy began her career writing for a law enforcement-related publication and teaching English courses at numerous colleges in the U.S. and abroad.


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[getmoreshares]

could not load-- can you copy and paste? TIA

[Chill2]

https://bankruptcompanynews.com/j-g-wentworth-bankruptcy-1-8-18/

[Chill2]

https://www.businesswire.com/news/home/20180104005855/en/J.G.-Wentworth-Home-Lending™-Named-Finalist-2018

[getmoreshares]

VERY GOOD-- did not want to see a fellow trader loose all his $$$$$.
Still watching to see what happens!!!
Have any gain?

[jindal]

Yes brother...

[jindal]

Maybe just in time for the weekend

[jindal]

The fluctuations above and below the trend-line within a short period of time is a good sign. This is getting ready to pop back above a penny.

[Jokers123]

Looking for a good bounce here.

[getmoreshares]

no, staying away- but good luck to you.
Waiting to see what happens

[jindal]

What's the word ?

[CNolan1]

Did anybody else get paperwork today about the JG Wentworth bankruptcy? I got mine from Td Ameritrade.

[jindal]

Is this starting to look interesting to you ?

[getmoreshares]

Same to YOU--THANKS

[jindal]

Have a happy New Year and a prosperous 2018