Distressed Business’ Alternatives to Bankruptcy
Author: Gary P. Segal.; Deborah D. Williamson.; Paulina Garga-Chmiel.
Source: Volume 39, Number 03, March 2023 , pp.27-33(7)
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Abstract:
In this article the authors give an overview of various non-bankruptcy alternatives for distressed companies. These include: assignments for the benefit of creditors, UCC Article 9 sales, receiverships, and other out-of-court workout options. Their discussion covers the pros and cons of each strategy.Keywords: Assignment for the Benefit of Creditors (“ABC”); Receiverships; UCC Article 9 Sale; Composition Agreements
Affiliations:
1: Dykema Gossett PLLC; 2: Dykema; 3: Dykema.