Bankruptcy
May 4, 2010
Federal v. State Claims in Bankruptcy
While bankruptcy is a stark reality for some, many troubled companies have the option to execute a general assignment for the benefit of creditors, writes Krsto Mijanovic of Haight Brown & Bonesteel.
The recession has taken its toll on many California businesses, small and large. Many companies have come to a point where they are no longer viable and must close down. While bankruptcy is a stark reality for some, many troubled companies have the option of executing a general assignment for the benefit of creditors or ABC, which is a business liquidation device available to an insolvent debtor as an alternative to formal bankruptcy pr...
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