Our experience representing insolvent companies runs deep. We know that determining the most beneficial means of assisting a troubled company depends on the specific facts and circumstances pertaining to the company. A Chapter 11 case may be unrealistic due to cash flow or financing difficulties. If liquidation is required, a Chapter 7 case may not be the best alternative due to a trustee's possible inability to generate the greatest return for creditors or other concerns of management. Assignments for the Benefit of Creditors — insolvency proceedings governed by state law — permit a company to voluntarily assign its assets to an independent fiduciary responsible for winding down the company's affairs without the need or involvement of a bankruptcy court.
Palm Beach Assignment for the Benefit of Creditors Lawyers
We understand the distinctions between the rights and the obligations of bankruptcy trustees and assignees that serve in state court insolvency proceedings. This understanding allows us to help officers of troubled companies make the right decision when determining the most appropriate method of resolving a company's financial difficulties. We protect management from future claims while benefiting creditors.
Our attorneys have participated in a substantial number of Assignments for the Benefit of Creditors, both on behalf of the company making the assignment and as counsel to creditors of the assignor. Our unbiased perspective, combined with our knowledge of the procedure followed in assignments, gives clients the knowledge that they will receive objective, sound advice from experienced counsel that has a thorough understanding of this area of the law.
Contact the Palm Beach Assignment for the Benefit of Creditors Attorneys of Rosen & Winig, P.A.
For efficient and effective solutions to even the most complex legal challenges, turn to Rosen & Winig, P.A. Our lawyers offer exceptional representation to businesses and individuals. Call 561-459-2613, toll free at 877-268-2933 or simply contact us online to schedule an initial consultation.
