Receiverships and ABCs

As a faster and lower cost alternative to filing a Chapter 11, companies that are severely underperforming and distressed are often put in the hands of an independent fiduciary in a Receivership or ABC (Assignment for the Benefit of the Creditors) to sell the company in an “asset sale” or to liquidate the company. Receiverships can be either in State Court or Federal Court depending on the specific circumstances of a case.

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