Please tell us who you are and gain access to all our free resources.

Assignment For The Benefit Of Creditors

A transfer to another by an insolvent debtor of any real or personal for the payment of debts. This form of liquidation is generally simpler usually offers greater dividends to creditors than does bankruptcy. Such a voluntary conveyance is without compulsion of law but is usually recognized by most creditors and regulated by law in some jurisdictions.