J.S. Held Acquires Steeplechase Advisors, Deepening National Restructuring and Turnaround Expertise
Read MoreAs Assignees, our financial and operational experts leverage extensive restructuring experience to liquidate assets and quickly maximize proceeds for creditors while mitigating liability and preserving jobs.
Our team serves as the distressed business’s de facto CEO and CFO, taking control of operations; managing creditors, employees, and litigation; preparing for and executing the sale of business assets; and distributing proceeds to creditors pursuant to priority.
Our ABC solutions provide unique advantages compared to traditional Chapter 7 and 11 bankruptcies, receiverships, and other out-of-court restructuring options, including:
In certain situations, an out-of-court Assignment for the Benefit of Creditors (ABC) may be the most prudent fiduciary action by a distressed company’s Board of Directors.
ABCs involve assigning the business assets to an Assignee who generally operates the company while selling it as a going-concern in a competitive process. An ABC can be faster and yield greater net proceeds than a receivership, bankruptcy, or other out-of-court restructuring process.
As Assignee, we pursue a fast and efficient process, which generally includes the following:
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ABC for Manufacturer & Distributor of Plastic Flowerpots
ABC of Cabinet Manufacturer & Contractor
ABC of Medical Clinic Chain
ABC of $50MM International Textile Recycler
ABC of Custom Cabinetry Manufacturer
ABC of Illiquid Aviation Business
ABC of Inherited Law Firm with Tax Liabilities
ABC of Landscaping Distributor
ABC of Multi-Channel Retailer
ABC of Outdoor Furniture Retailer / Wholesaler
Biomedical Technology Company
Business Sale For $15 Million Using an ABC
Long-Term Liquidation of Metals Foundry
