On Bankruptcy and Mediation
Delays? (photo by Marilyn Swanson) By: Donald L Swanson Mass torts and resulting litigation are a reality of life in these United States. But one of the truly shocking things about mass tort litigation, in recent times, is this: judicial delays override the wishes of mass tort victims for prompt payment of negotiated amounts. A current... Continue Reading →
Across state lines? (Photo by Marilyn Swanson) By: Donald L. Swanson The Uniform Law Commission (“ULC”) is the same organization that brought us the Uniform Commercial Code, the Uniform Trust Code, and other “Uniform” state laws. The ULC is now offering a Uniform Assignment for Benefit of Creditors Act (the “Uniform ABC Act”). The new... Continue Reading →
Nation-Wide By: Donald L Swanson I recently ran across an Order from a state court, under that state’s receivership statutes, purporting to create a nation-wide injunction (i.e., a “stay”) against any judicial, administrative or other action by any creditor that would affect any of the debtor’s property. And the debtor’s property spans across state lines. My... Continue Reading →
Not uniform (photo by Marilyn Swanson) By Donald L. Swanson Here are some reasons why a uniform law on the subject of assignments for benefit of creditors ("ABC") is needed. Bankruptcy Analogy The need for a uniform ABC law is the same as the need behind the “uniform” bankruptcy law requirement in the U.S. Constitution—only, it’s... Continue Reading →
For publication? (Photo by Marilyn Swanson) By: Donald L Swanson U.S. Courts of Appeals frequently issue opinions designated “Not for Publication” or “Non-Precedential” or something similar (let’s call them “unpublished opinions”). Question: What, precisely, do such designations mean? Starting Places for Answers: The starting place for answering the question is Fed.R.App.P. 32.1(a), which provides: “A court... Continue Reading →
Ignoring? (Photo by Marilyn Swanson) By: Donald L Swanson When state legislatures consider a legislative bill, it’s important that they hear from stakeholders who would be affected by that bill. Important ABC Stakeholders When faced with a legislative bill on assignment for benefit of creditors (“ABC”), its important that legislatures hear from a variety of stakeholders,... Continue Reading →
Finding precedents? (Photo by Marilyn Swanson) By: Donald L Swanson Recently, the U.S. Supreme Court denied certiorari in two cases involving bankruptcy questions: in Barings L.L.C. v. Ag Centre Street Partnership, Case No. 24-1322 (cert. denied on 11/10/2025), the Question Presented is, “Whether an appellate court can materially alter a consummated plan of reorganization without permitting... Continue Reading →
A tool? (Photo by Marilyn Swanson) By: Donald L. Swanson An assignment for benefit of creditors (an “ABC”) under the common law is an out-of-court tool for liquidating a business debtor’s assets in an efficient and credible manner. Such a common law tool has been used, effectively and frequently, for many years in such states... Continue Reading →
By: Donald L Swanson Here’s a curious thing: an advisory opinion from a U.S. Circuit Court of Appeals on an issue for which there is no controversy and that is mostly academic. That’s exactly what we have in In re Whittaker Clark & Daniels, Inc., Case Nos. 24-2210 & 24-2211 (3rd Cir., decided September 10, 2025)(see... Continue Reading →
The new Act By: Donald L Swanson Assignments for benefit of creditors (“ABCs”) and receiverships have been utilized effectively for centuries under the common law, side-by-side as separate and distinct and complementary remedies for liquidating assets. Differences Differences between the two are that: receiverships are a court-supervised process initiated by a creditor to dispossess the debtor... Continue Reading →
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