For many financially distressed middle market and smaller companies, bankruptcy has become far too complicated, expensive, and slow to be a viable option for liquidation. As a result, more and more insolvent companies are turning to assignments for the benefit of creditors (ABCs) as the preferred means of liquidating. The speakers, featuring Lowenstein's Bruce S. Nathan and Michael Papandrea, will discuss the ins and outs of ABCs, how they differ from bankruptcy cases, how trade creditors should respond when a customer commences an ABC proceeding (including the need to timely file proofs of claim), the claims reconciliation process, and preference risk in certain ABC proceedings.
Speakers:
- Bruce S. Nathan, Partner, Lowenstein Sandler LLP
- Michael Papandrea, Counsel, Lowenstein Sandler LLP
Time: 12:30 p.m. ET
