About the Course
Introduction
This CLE course will compare receiverships, assignments for the benefit of creditors (ABCs), and bankruptcy, reviewing the advantages and disadvantages each offers to buyers, petitioning creditors, debtors, and non-petitioning creditors. The program will discuss what situations each process is best suited to address and key provisions to include in relevant orders and agreements. The panel will also address the Federal Priority Act and the receiver's duties.
Description
Lenders seeking quick and efficient remedies to protect their collateral may turn to receivership, which has become a common alternative to bankruptcy proceedings in recent years. ABCs are another option, often cheaper and faster than receiverships or bankruptcy. Although not sought as frequently, the appointment of a receiver to aid in collecting a judgment is a powerful tool. But there are drawbacks and risks for all parties to receiverships or ABCs not present in the bankruptcy process.
Listen as this panel discusses each process' benefits and drawbacks and the ease or difficulty of obtaining each remedy, relevant statutes, and best practices for all stakeholder constituencies.
Presented By
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Mr. Bast has been practicing in the insolvency and litigation arena for 30 years. He guides business clients through all types of insolvency-related issues, including bankruptcy and bankruptcy avoidance, emphasizing corporate reorganization, workouts, and liquidation. Through his experience in commercial litigation, Mr. Bast knows his way around the courtroom, but he also knows that his clients are often better served by avoiding court. For this reason, his initial focus is avoiding bankruptcy when possible. His business background makes him well-suited to guiding his clients with insolvency-related transactions as well. Mr. Bast has extensive experience with all aspects of bankruptcy sales, acquisitions, and financing. He represents corporate and individual debtors, shareholders, trustees, receivers, indenture trustees, and creditors’ committees, as well as secured and unsecured creditors in workouts, reorganizations, and litigation.
Mr. Singer is a trusted advisor to public and private companies, offering strategic counsel on complex corporate finance and commercial transactions to help clients structure, negotiate, and manage risk. He represents lenders, borrowers, administrative agents, private equity firms, and their portfolio companies in sophisticated debt and equity financings. Mr. Singer also advises clients on mergers, acquisitions, divestitures, and other strategic transactions, aligning legal strategy with their broader business goals.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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Date + Time
- event
Tuesday, July 14, 2026
- schedule
1:00 PM ET./10:00 AM PT
I. Comparing bankruptcy, receivership, and ABC on key facets
A. Relevant statutory authority
B. How each process initiated
C. Qualifications and duties of receiver, trustee, or assignee
D. Compensation and use of professionals
E. Oversight and accountability to court, others
F. Stay of litigation or collection
G. Claims and collateral disposition
H. Priorities of payment and the Federal Priority Act
I. Avoidance powers
II. Best strategies
A. Lenders
B. Debtors
C. Creditors
The panel will review these and other key issues:
- How are receiverships and ABCs being used?
- Does the Uniform Assignment for Benefit of Creditors Act make any material changes to state law?
- What factors must be considered by lenders, borrowers, buyers, and others when evaluating whether to seek or oppose a receivership or to use the ABC process?
- What are the key provisions in any relevant receivership order or ABC?
Related Courses
Evaluating Bankruptcy, Receivership, and Assignment for the Benefit of Creditor Alternatives
Tuesday, July 14, 2026
1:00 PM ET./10:00 AM PT
