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Assignments for the Benefit of Creditors - A Bankruptcy Alternative

 

Recognize when the use of an assignment may be advantageous versus the debtor turning to a liquidation under Chapter 7 of the bankruptcy code.

Receive an overview of the basics to general assignments for the benefit of creditors, a state law alternative for the liquidation of a distressed business that while long available under state laws, has had little use outside of states such as California, Illinois, Florida and Massachusetts. States such as Washington and Minnesota have enacted new statutory schemes addressing the use of ABCs (as receivership actions) and other states are considering new statutory schemes as well.
The fiduciary nature and responsibilities of the assignee will be covered, as will the advantages and disadvantages to the process as compared to bankruptcy. Gain a better understanding of the nature of general assignments and when the use of an assignment may be advantageous versus the debtor turning to a liquidation under Chapter 7 of the bankruptcy code.

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Assignments for the Benefit of Creditors - A Bankruptcy Alternative

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Assignments for the Benefit of Creditors - A Bankruptcy Alternative

Faculty

Geoffrey L. Berman

Geoffrey L. Berman

Development Specialists, Inc.

  • Senior Managing Director of Development Specialists, Inc.
  • Former president and chairman of the Board of the American Bankruptcy Institute and member of ABI's Board of Directors, 2002-2014; Executive Committee and Management Committee, April 2010- 2014
  • Ex-officio member of the ABI Commission for the Study of Reform of Chapter 11 (report released in December 2014)
  • More than 40 years of experience in the administration of assignment estates around the country
  • Author of ABC’s Book on ABC’s (General Assignments for the benefit of Creditors, The ABC’s) 4th edition
  • Wrote numerous articles on general assignments, including the ABI publication "General Assignments for the Benefit of Creditors, the ABCs of ABCs," 3rd edition, September 2015; co-wrote an article for the St. John's University Law School Law Review proposing a Model Statutory Scheme for general assignments, 2009
  • J.D. degree, Southwestern University School of Law, Los Angeles, California; B.A. degree, University of the Pacific, Stockton, California
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Assignments for the Benefit of Creditors - A Bankruptcy Alternative

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