John M. August, Esq.Saiber LLC, Florham Park
The financial distress surrounding the pandemic has left many companies reeling. With no clear end in sight, a growing number of insolvent businesses will be forced to pursue reorganization or even exit strategies. The good news is there are options, and the most advantageous exit path may be an Assignment for the Benefit of Creditors (ABC). 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. It is better to act quickly and decisively than delay, and that’s where you come in.
Are you ready to dive into the fundamentals wide-ranging and complex area of ABCs? A complex area of law, insolvency incorporates both federal law (bankruptcy) and state laws (assignments, bulk sales, receiverships, workouts, and probates), as well as other aspects that involve both federal and state law. With a general overview both federal law (bankruptcy) and state laws (assignments, bulk sales, receiverships, workouts, and probates) to set the stage, panelists will help you take a deeper look at ABCs specifically, including the process, advantages, disadvantages, and best practices. Hear leading thought leaders discuss current market projections, how to navigate creditor-dictated wind-down terms and constrained financial maneuverability, how to help clients avoid reduced asset value, and how to handle various situations that typically arise with distressed businesses today.
2.0 professional practice credits
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