Assignee for Benefit of Creditors

Trustee > Assignee for Benefit of Creditors

The assignment for benefit of creditors is a time-honored common law process in Illinois which is frequently used to wind up and liquidate a corporation, partnership or limited liability company.  Lakelaw has successfully represented debtors in such assignments many times, frequently minimizing liability to the principals, stockholders, officers and directors of the debtor corporation.  David P. Leibowitz’ 20 years of experience as a bankruptcy trustee also will serve you or your client well when you select him to serve as assignee for the benefit of creditors in your situation.

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