General Assignments

Mark Campbell Law also employs the use of general assignments (also known as assignments for the benefit of creditors) under the proper circumstances, usually when the commencement of a bankruptcy proceeding will not benefit the entity or creditors in any substantial way. This legal device does not involve any court supervision and allows for the liquidation of all of the assets of an entity in an expeditious and economic manner. Moreover, the principals of the entity will not be exposed to any liability for failing to liquidate the assets in a manner demanded by a particular creditor, as might be the case if the entity were to conduct its own dissolution.