{"iri":"http://lmss.sali.org/RBzBDWMpZCOFGTjRpx1wKEH","id":"RBzBDWMpZCOFGTjRpx1wKEH","label":"Assignment for the Benefit of Creditors","definition":"Assignment for the Benefit of Creditors (ABC) is a voluntary liquidation process where a debtor transfers all assets to an assignee, who sells the assets and distributes the proceeds to creditors. This non-judicial alternative to bankruptcy aims to maximize asset value and expedite creditor repayment. Some jurisdictions require court proceedings.","prefLabels":[],"altLabels":[],"examples":[],"notes":[],"sources":[],"branch":{"iri":"http://lmss.sali.org/RDK1QEdQg1T8B5HQqMK2pZN","label":"Service"},"parents":[{"iri":"http://lmss.sali.org/R9HPXBgZpsNyy2AbQLv1rLG","id":"R9HPXBgZpsNyy2AbQLv1rLG","label":"Out-of-Court Restructuring"}],"children":[],"relations":[],"url":"https://lmss.io/tag/RBzBDWMpZCOFGTjRpx1wKEH/","source":{"repo":"sali-legal/LMSS","ref":"3f9ac0c9357b2a971582ae79ede243511d47811d","channel":"pre-release"}}