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The ABCs of Assignments for the Benefit of Creditors (ABCs)
General assignments for the benefit of creditors (ABCs) have been and continue to be a popular business liquidation device for the orderly wind down of corporations, limited liability companies, and even nonprofit corporations and general partnerships. Just as in bankruptcy, an ABC can also be used to facilitate a going-concern sale of the debtor's assets to a third-party.
An ABC can be the most advantageous and graceful exit strategy, particularly where the goals of the company are: 1) to transfer the assets of the troubled business to an acquiring entity free of the unsecured debt incurred by the transferor; and 2) to wind down the company in a manner designed to minimize negative publicity and potential liability for directors and management.
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Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
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Blockchain Domains: New Developments for Brand Owners
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Supreme Court Rules Rejection of Trademark License Does Not Rescind Rights of Licensee
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