Ravix Group Blog Know Your Startup ABCs: Assignment for the Benefit of Creditors
What is an Assignment for the Benefit of Creditors (ABC)? An Assignment for the Benefit of Creditors (ABC) is a state law insolvency proceeding wherein a company, realizing it cannot continue its operations and meet its financial obligations, voluntarily transfers all its assets to a third-party assignee. The assignee then takes responsibility for liquidating the...The post Know Your Startup ABCs: Assignment for the Benefit of Creditors appeared first on Ravix Group.
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Ravix Group is a California-based consulting firm that provides services such as financial accounting, HR advisory, and outsourcing for businesses.
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