Assignments for the Benefit of Creditors (ABCs) are insolvency proceedings governed by state law instead of federal law. ABCs are often a less expensive means of fulfilling management’s fiduciary responsibilities in a situation of insolvency. Three Twenty-One Capital Partners acts as the Assignee, taking control of the assets and business operations. Acting as assignee, Three Twenty-One Capital Partners then uses our proprietary process to maximize the value of assets for the creditors’ benefit.
ABCs are hugely beneficial, freeing Directors, Management and Investors to focus on more productive ventures, while removing the go-forward personal liability, once the assignment occurs. Three Twenty-One Capital’s long-standing track record of monetizing the assets of distressed businesses, coupled with extensive Restructuring and Operating experience make our firm the optimal ABC choice when faced with an insolvency situation.
Contact Three Twenty-One Capital Partners to discuss if an ABC is the best option for your situation.