Perspective
Jan. 9, 2016
Court says assignee may not file for bankruptcy
The 11th Circuit recently considered a case where the assignee filed a voluntary bankruptcy petition on behalf of the assignor. By David Kupetz
David S. Kupetz
Shareholder
SulmeyerKupetz PC
333 S Hope St 35FL
Los Angeles , California 90071
Email: dkupetz@sulmeyerlaw.com
UC Hastings College of the Law
David is an expert in bankruptcy, business reorganization, restructuring, assignments for the benefit of creditors, and other insolvency solutions.
An assignment for the benefit of creditors (ABC) is a state-law alternative to a formal federal bankruptcy proceeding. In many instances, where the goal is to transfer the assets of the troubled business to an acquiring entity free of the unsecured debt incurred by the transferor or wind down the company in a manner designed to minimize negative publicity and potential liability for directors and management, the most advantageous a...
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