About the Assignee Directory

About the National Directory of Experienced Assignees Who Serve as Such in Assignments for The Benefit of Creditors:

  1. The goal of the Assignee Directory (the “Directory”) is to provide comprehensive information about individuals who have served as assignees in the context of an assignment for the benefit of creditors (“ABC”). The only requirement for inclusion is that the included individual has at some point acted as an assignee or as an “ABC Ultimate Decision Maker” as that term is defined in the next sentence.
  2. An ABC Ultimate Decision Maker is, in situations where it is a firm’s practice to name the firm or another legal entity as assignee rather than an individual, the person who exercised ultimate decision-making authority in an ABC. Each assignment can have only one ABC Ultimate Decision Maker. To be clear, every submission must be for a human being, not the firm at which the human being is affiliated.
  3. There is neither any cost to be included in the Directory, nor does inclusion in the Directory constitute any endorsement. If you are an assignee or ABC Ultimate Decision Maker and want to be added to the Directory, then email [email protected] your request and include the following information: (a) your name; (b) your firm name; (c) your email address; (d) the number or approximate number of cases in which you have served as an assignee or as an ABC Ultimate Decision Maker (if you are estimating, you may want to review the Directory to see the ranges we use). You must also include this statement: “I have reviewed the “About the Assignee Directory” page, I agree to its terms, and I warrant that the information I provide in this email is accurate and is provided in conformity with the rules contained at that page.”
  4. Your request will constitute your agreement to indemnify and hold us harmless against any third-party claim made against us based on any information you provide to us being inaccurate.
  5. The Assignee Directory was created and is maintained by DailyDAC, LLC (the “Publisher”) and references herein to “we” and “us” are to the Publisher. The Publisher does not and will not do any due diligence to confirm the accuracy of the information provided in the Directory. If the Publisher receives information from a third party that information in the Directory is inaccurate, however, then the Publisher may remove such information from the Directory until the Publisher receives satisfactory (in its sole judgment) evidence of its accuracy.
  6. The “States” column lists those states under whose laws the Assignee or ABC Ultimate Decision Maker has served as an Assignee or ABC Ultimate Decision Maker in an ABC.
  7. A note about the numbers: the hallmark of an excellent assignee is not the number of assignments done. While highly relevant, the fact of the matter is that many professionals have substantial experience working for a firm that acts as assignee and many professionals serve as receivers, bankruptcy trustees, liquidating agents, and the like in a fiduciary capacity. These experiences are very relevant because the role of an assignee is quite similar to them.
  8. Hyperlinks within the state abbreviations in the third column of the Directory lead to the applicable state summary chapter in the online version of the 2021 edition of Thomson/Reuter’s Strategic Alternatives For And Against Distressed Businesses (“SADB”), the online version of which may be accessed through Westlaw, and the soft cover two-volume desk set of which can be viewed on Thomson Reuters.

    SADB is a unique tool because it is the only resource that compares ABCs on a state-by-state basis and compares state law operating company receiverships on a state-by-state basis. These “comparison guides” are summaries of the law, of course, but their real innovation is that each ABC chapter asks and answers the same set of questions, and each receivership chapter asks and answers the same set of questions. This feature makes SADB the perfect “comparison” guide, which makes it uniquely valuable for forum selection.

    In addition, SADB includes these “generalized” chapters, making it an incredibly broad reference guide about all of the options a distressed company, its creditors, and its other various constituents. For this reason, it has been often said that if a non-restructuring attorney were to pick only one book about business bankruptcy and its alternatives, SADB would be the best selection. SADB’s generalized chapters include:

    1. Overview of Nonbankruptcy Alternatives
    2. Failures Companies Make that Lead to Crisis (or Why Companies Fail)
    3. Turning Around a Distressed Organization
    4. An Overview of Business Bankruptcy
    5. Prepackaged Bankruptcies
    6. Exchange Offers
    7. Compositions with Creditors
    8. An Overview of Assignments for the Benefit of Creditors
    9. The First 30 Days of an ABC
    10. Utilizing Chapter 15 of the Bankruptcy Code as a Strategic Alternative for Administration of U.S. Assets in Cross-Border Insolvencies
    11. State Court Receiverships
    12. Federal Court Receiverships
    13. Real Estate Workouts
    14. Tax Considerations in Insolvency, Bankruptcy and Other Debt Workout Cases
    15. Perspectives: Secured Creditors
    16. Perspectives: Buyers
    17. Liability of Officers, Directors, and Professionals of Insolvent and Near-Insolvent Corporations