Spencer Fane attorney Eric Johnson recently spoke on receiverships, assignments for the benefit of creditors (ABCs), and bankruptcy while reviewing the advantages and disadvantages of each to buyers, petitioning creditors, debtors, and non-petitioning creditors during a Strafford webinar held on July 16.
Eric and his fellows panelists presented the session Evaluating Bankruptcy, Receivership, and Assignment for the Benefit of Creditor Alternatives, which featured discussions on what situations each process – receiverships, ABCs, and bankruptcy – is best suited to address. The panel also addressed the Federal Priority Act and a receiver’s duties.
At Spencer Fane, Eric is the co-practice group leader for the Banking and Financial Services Group and practice group leader for the Bankruptcy, Restructuring, and Creditors’ Rights Group. In addition to serving as a receiver and bankruptcy trustee, Eric represents clients in bankruptcy; nonbankruptcy insolvency proceedings, such as receiverships and ABCs; out-of-court workouts and restructurings; and other related insolvency matters.