State (WI Chapter 128)
Assignment for the Benefit of Creditors
No one aspires to one day file for bankruptcy protection, seek the appointment of a receiver, or make an assignment for the benefit of creditors. Often viewed as a sign of failure, these options are typically considered a last resort. The fact is, however, these alternatives exist because they are important mechanisms which facilitate the efficiency of capital markets, provide structure and a degree of predictability in otherwise chaotic situations, and establish an equitable basis for the administration of stakeholder claims. Properly planned for and carefuly exectued, bankruptcy, receivership, and other fiduciary services can be powerful tools in the effort to maximize stakeholder value and minimize downside risk.
Wadsworth Whitestar has extensive experience advising debtors, creditors, receivers, trustees, and other fiduciaries in bankruptcies, receiverships, and assignments for the benefit of creditors. In addition to assisting debtors plan for and navigate these complex processes, our professionals have acted as exclusive financial advisors to secured lenders and creditor committees, as expert witnesses, and as fiduciaries – serving in the capacity of receiver or assignee.