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What Is an Assignment for the Benefit of Creditors and How Does It Differ From a Bankruptcy? - Creditor’s Rights Toolkit

An assignment for the benefit of creditors (ABC) is a process by which a financially distressed company (referred to as the assignor) transfers its assets to a third-party fiduciary (referred to as the assignee). The assignee...more

8/23/2024  /  Automatic Stay , Bankruptcy Code , Bankruptcy Court , Commercial Bankruptcy , Creditors , Debtors , Financial Distress , Financial Services Industry , Involuntary Bankruptcy
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