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Feb. 11, 2003
Exit Strategy Gets Right Back to Basics
By Toni Vranjes Bankruptcy attorneys are busy practicing their ABCs. An out-of-court process known as assignment for the benefit of creditors, or ABC, has gained popularity as an alternative to formal bankruptcy proceedings. The process has become increasingly attractive since the stock market began its nose dive in early 2000, according to insolvency lawyers.
An out-of-court process known as assignment for the benefit of creditors, or ABC, has gained popularity as an alternative to formal bankruptcy proceedings. The process has become increasingly attractive since the stock market began its nose dive in early 2000, according to insolvency lawyers.
The approach has enticed financially tro...
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