General Assignments for the Benefit of Creditors: The ABCs of ABCs (6th Edition)

Robert Saunders recently co-authored the 6th and latest edition of the American Bankruptcy Institute’s (ABI) iconic book General Assignments for the Benefit of Creditors: The ABCs of ABCs alongside former ABI president Geoffrey Berman, who was the sole author of the book’s previous five editions. Our firm’s Director of Legal Research, Leslie Ann Forrester, made significant contributions as well.

The co-authors draw on their experience to expand on the important developments since the book’s last edition was published in 2021, specifically in Delaware and Florida, and regarding the Uniform Law Commission’s draft Uniform Act. The book, sponsored by PSZJ, provides an overview of the latest updates and potential changes to ABCs as it varies by state.

The book is described on the ABI website as follows:

Since the publication of the fifth edition of General Assignments for the Benefit of Creditors: The ABCs of ABCs in 2021, there have been significant developments, especially in Delaware and Florida, that provide new direction in those states and offer guidance for other jurisdictions, which may clarify the future path of ABCs. Additionally, the Uniform Law Commission is reviewing a final draft Uniform Act that reflects a growing consensus on ABCs, while recognizing the considerably different approaches of the states. This developing consensus is influenced in part by the legislative approach in Florida and the judicial approach in Delaware toward changing how ABCs are conducted and their effects on participants and stakeholders. With this update, Geoffrey L. Berman and Robert M. Saunders continue the tradition of this book by providing readers with a concise overview of the current status and potential foreseeable changes in ABCs. As alternatives such as chapter 11 bankruptcies have become prohibitively expensive for many companies, the relative cost-effectiveness of ABCs continues to make them an attractive option. The variety of states’ approaches to ABCs — particularly in California, Delaware, Florida and Minnesota — and the compromises made in crafting the Uniform Law Commission’s draft Uniform Act introduce a dynamism that was not present even as recently as 2021.

To learn more and order General Assignments for the Benefit of Creditors: The ABCs of ABCs (6th Edition), click below.