Assignment for the Benefit of Creditors
In this role, we…
What sets us apart
An advisory firm specializing in corporate restructuring, challenged businesses, litigation, and other special situations.
When we serve as the Assignee in an Assignments for the Benefit of Creditors (ABCs), Force 10 takes on the problems and risks for an insolvent business. We sell the assets and wind down the company’s affairs, protecting creditors’ interests while keeping them informed.
ABCs are based on state law, not the federal bankruptcy code, and vary by state. Where laws favor out-of-court dissolutions, an ABC with a fiduciary as the assignee, works well for closely-held entities with secured or unsecured debt. The process resembles a Chapter 7 bankruptcy without court oversight.
A proven ability to identify productive solutions in challenging situations and offer value-creating strategic advice to firms across a wide range of industries.
Force 10 Partners served as financial advisor in a sub-advisor capacity to the named fiduciaries of this venture fund family, which had been severely impacted by sponsor misappropriations.
Read more »Contact us for an objective, candid assessment of your situation and a conversation about how our expertise and track record of success could address your needs.
Contact Us