Alternatives to Business Bankruptcy

Unlike in federal bankruptcy, where the path is well-worn, selling assets ‘free and clear’ in a state court receivership can feel like forging your way through a legal thicket.

Receiverships can be an alternative to bankruptcy, offering more flexibility and potentially quicker resolutions.

When a business or individual faces financial turmoil or regulatory scrutiny, a court may appoint a receiver to take control of assets and oversee operations.

Assignment for Benefit of Creditors (ABC) might mitigate loss and preserve going-concern value for the company and its secured creditors.

Federal equity receiverships are crucial mechanisms for addressing insolvency, fraud, and mismanagement in businesses.

The statutes that dictate how to start and manage a receivership may differ depending on the state. It is critical to understand the key differences between jurisdictions.

In a Delaware assignment for the benefit of creditors case, court approval is not required for a sale, but, time, money, and preference can factor.

A Match Made in Heaven? At first blush, cannabis and a legal practice like receivership might seem an unlikely match. Medical and recreational cannabis has steadily grown in acceptance and legalization over the past decade in the United States. However, there are times when cannabis businesses face insolvency and need a legal solution. As of right now, cannabis companies are not eligible for bankruptcy protection. In many cases, the groups they make payments to are also not eligible. This affects not only the companies but also the employees and their […]

A composition agreement is an out of court agreement between the debtor and two or more creditors regarding payment arrangements on a debt.

When is a business turnaround no longer viable? Ask these questions to determine if you or your client’s business can be saved.