May 4, 2021
Geoffrey L. Berman and Steven L. Victor were featured in Today’s General Counsel with the co-authored article titled A Better Alternative to Business Bankruptcy.
This article gives general counsel a simple explanation to the ABC process to help them understand alternatives to address distressed company issues, and for general counsel to private equity firms, the ABC alternative for a distressed portfolio investment. “An ABC is a state law process to liquidate the assets of a business. Each state has rules or statutes that govern the process. It is not a bankruptcy, as bankruptcy is governed by federal law.”