Foley Attorneys Author Article on Uniform Assignment For Benefit of Creditors Act

Foley & Lardner LLP partner Emil Khatchatourian and associate Joseph Harper co-authored The Review of Banking & Financial Services article, “Modernizing ABCs with the Uniform Assignment For Benefit of Creditors Act.”

The authors assess the anticipated impact of the Assignment for the Benefit of Creditors (ABCs) Act on state practices, highlighting its potential to harmonize disparate legal frameworks, expand access for multi-state debtors, and enhance predictability for creditors.

Ultimately, the authors conclude that the ABC Act offers a modernized, business-friendly restructuring tool that may reshape the future of nonbankruptcy liquidations across the United States.