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J.G. Wentworth Bankruptcy Objection Filed

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The U.S. Trustee assigned to the J.G. Wentworth case filed with the U.S. Bankruptcy Court an objection to the Debtors’ Joint Pre-Packaged Plan of Reorganization.

The Trustee asserts, “The United States Trustee recognizes that this Plan is supported by 100% of the impaired creditors who voted. The Debtors have worked with the United States Trustee to resolve issues with the Plan and the parties have agreed in principle to make certain changes to the Plan. Nevertheless, the United States Trustee objects to confirmation of the Plan because it imposes non-consensual third-party releases upon unimpaired creditors immediately upon the Effective Date, thus impairing these creditors’ legal, equitable and contractual rights.”

Read more J.G. Wentworth bankruptcy news.