Sentence examples for assignment for the benefit of from inspiring English sources

In an assignment for the benefit of creditors, the business assigns its assets to a trustee, who auctions them off and distributes the proceeds to creditors.

In August, OnLive went through a form of bankruptcy, called assignment for the benefit of creditors, and shareholders including Mr. Perlman lost their investment and employees were laid off.

Regards, Navdy (assignment for the benefit of creditors), LLC.

I found out that they were going through this ABC, or Assignment for the Benefit of the Creditors, process, and fortunately we ended up working something out".

Navdy, Inc. ("Navdy" or the "Company") has undertaken an assignment for the benefit of creditors ("Assignment") as of October 26, 2017 and appointed an Assignee.

It bought the original company's technology, trademarks and patents after OnLive's board used a technique known as "assignment for the benefit of creditors" - an alternative to bankruptcy.

State law assignments for the benefit of creditors could also been seen as a bankruptcy process under this definition.

It regulated both voluntary assignments for the benefit of creditors made by merchants (Title X) and the proceedings and effects flowing from bankruptcy (Title XI).

An insolvent concern, on the other hand, may be liquidated in a receivership, in which a court-appointed receiver sells the assets and distributes the proceeds; in general assignments for the benefit of creditors; in bankruptcy; or in the administration of a decedent's estate.

He argued that there are cheaper procedures for these firms, such as assignments for the benefit of creditors,11 bulk sales,12 foreclosures and private workouts.

The assignment became considerably more focused on UNICEF Bangladesh's capacities and performance in leveraging its assets for the benefit of children.