GENERAL ASSIGNMENT AND AVOIDANCE ACTIONS

CLIENT DILEMMA:
The assignee of all the assets of a large printing company in a general assignment needed to prosecute over twenty preference actions. Assignee looked to the Firm for assistance.

FIRM SOLUTION:
Mr. Campbell negotiated settlements at around 80% of the potential recovery with most of the preference defendants before having to file an action. Of the seven actions filed, five were settled before the answer was due, a default judgment was obtained against another, and Mr. Campbell successfully secured a summary judgment against the last preference defendant. Accordingly, the net benefit to the general assignment was substantial.