A troubled company often reflexively perceives a bankruptcy filing as the prototype solution to its financial distress. Bankruptcy is an important and powerful tool to address insolvency—providing for an automatic stay, the sale of assets free and clear, confirmation of a plan over the objection of...

An assignment for the benefit of the creditors (ABC) has become an increasingly well-known insolvency process. While an ABC may have certain advantages for a particular company over other insolvency alternatives ( e.g ., a bankruptcy filing, foreclosure), the facts of each situation should be well...

Complex commercial and property cases can turn on issues that are not easily resolved by conventional litigation. But the law offers a path out of the thicket. Receivership is a tool that is often overlooked in complex disputes. Working with the court, receivers can provide the structure, guidance...

The Uniform Commercial Code (UCC) provides a framework to allow a secured party to foreclose its security interest in personal property after a default without judicial proceedings. The secured party may then proceed to take possession of the collateral and render it unusable or dispose of it on...