Assignments for the Benefit of Creditors
When a business needs to be wound-down, it is usually sold or liquidated and the proceeds distributed to creditors. Sometimes Chapter 11 makes the most sense. While other times a Chapter 7 bankruptcy or a corporate dissolution is best. Determining which path an insolvent company should take depends on the specific facts and circumstances, as some options may not fit a financially troubled company.
Our Denver-based law office has significant experience in assignments for the benefit of creditors, representing assignors and assignees in the furtherance of their duties and obligations. We understand the relative advantages and disadvantages of these types of cases, appreciate what each party must undertake in assignments, and welcome the opportunity to represent interested parties in these state court liquidation matters.
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