The ABC is an Alternative to Bankruptcy
Farlega Partners, LLC is one of the leading firms in the United States that is called upon when a company decides it needs to make an Assignment for the Benefit of Creditors (ABC). We have been the assignee for both private and public companies and our team understands the complexities and an Assignment and that it takes much more than just signing a contract with an Assignor. It takes a comprehensive strategic plan, to properly monetize the assets for the benefit of creditors.
The last thing any manager, investor or board member wants is to revisit this situation months or years later. Farlega has been able to fully monetize the assets of the company due to our deep relationship with corporate (both national and international buyers) and as the creators of the "Operating ABC".
Farlega developed these unique techniques to fully monetize assets for the benefit of creditors.
The benefits of an ABC are numerous. The debtor company selects the Assignee. Once Farlega Partners, LLC becomes the assignee, we take control and work through the problems of the company. These problems are transferred to the Assignee. The management team, investors and the board can then move forward with their lives and everyday business. Also, the personal liability of directors and officers for running an insolvent company ceases to be an issue once the assignment of assets occurs.
The Benefits of an Assignment for the Benefit of Creditors (ABC) include:
The Assignment for the Benefit of Creditors (ABCs) process: