Informal Liquidation

Informal LiquidationIf the issue involves a business that is closing or a venture that has run its course, another alternative is to conduct an informal liquidation. The process involves sending out a certain type of notice to all creditors and then conducting an “auction” of assets. When done correctly, the creditors may be forced to accept less than what is owed and each creditor is paid on a pro rata basis. This alternative can save the company and its principal’s substantial money while protecting the principals from a subsequent fraudulent transfer claim. We have the expertise to guide you or your company through this process. Call us today to arrange a confidential consultation with Attorney David Speckman to discuss your situation.

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