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An Assignment for the Benefit of Creditors (ABC) is a legal process through which a financially distressed business voluntarily transfers its assets to a third-party assignee for the purpose of liquidating those assets and distributing the proceeds to its creditors. ABC is an alternative to formal bankruptcy proceedings and is governed by state laws in the United States. In this article, we will explain why an ABC can potentially be a good alternative to bankruptcy, and other reasons why a distressed business should consider it.

Unfortunately, out of the 4.2 million small businesses in California, there are numerous closures every year. Businesses fail, corporations go into bankruptcy, and many Californians are left trying to figure out how to weather the storm.

Bitcoin, at its most fundamental level, is a breakthrough in computer science — one that builds on 40 years of research in cryptography to solve the double-spend problem that has perplexed computer scientists for decades.

Dealing with a nuisance property can be incredibly frustrating and stressful. Court-appointed receivers are an incredible resource for individuals, businesses, and municipalities who need to address unsafe nuisance properties in their communities.

Hoarding is a serious condition that affects millions of families in America. The effects of extreme hoarding can be heartbreaking and devastating. In these extreme situations, the courts may get involved.

Receivership and bankruptcy are two legal options used to address business financial distress, but they are different in their nature, purpose, and scope.

A bank receivership was implemented in the collapse of Silicon Valley Bank, which has been an important topic of conversation since early March. That is when the California Department of Financial Protection and Innovation (CA DFPI) took possession of SVB and closed it.

When a property involves a deed of trust or mortgage, a rents and profits receivership may be needed for legal enforcement.