Assignment for the Benefit of Creditors

If a debtor is a suitable candidate for an Assignment for the Benefit of Creditors (ABC), this efficient technique may be used to help them avoid the negative aspects of bankruptcy. For several decades AIQ and ARA has been a leader and an innovator in the implementation of this state court alternative for the administration of insolvent estates. AIQ and ARA have developed several innovative methods of operating a business in an assignment pending the partial or full sale of assets.

Our companies conduct a thorough analysis of the debtor’s financial situation in order to determine whether the debtor is eligible for an ABC. If so, then with the direction of the debtor’s attorney (assignor’s), AIQ or ARA serves as the assignee, responsible for liquidating the estate in full and ensuring the equitable distribution of funds received from the sale of assets to creditors.

As an assignee, we will develop a comprehensive liquidation plan in order to maximize value for assets while minimizing expenses and administrative costs. The liquidation plan includes the process of collecting accounts receivable, identifying potential revenue sources (such as filing for outstanding insurance claims) and working with our real estate affiliates and auction subsidiaries to receive the highest value for liquidating all tangible and intangible assets.