Electrical Distributor
(Assignment fbo Creditors)

The company was a heavy duty electrical equipment distributor located in Chicago. As a licensed MBE (minority business enterprise) the Assignor did business with many large contractors as well as a number of government entities. The company executed an assignment for the benefit of creditors to David Abrams, as Assignee. After repaying the Secured Creditor in full, Abrams And Jossel Consulting ultimately made a 72% distribution to the company’s Unsecured Creditors. This distribution was the direct result of A&JC’s ability to collect on the company’s accounts receivables. The majority of these receivables were owed to the company by government and municipal entities. In addition to the collection of the receivables A&JC handled the liquidation of the inventory and equipment. The creditors in this case were extremely grateful for the results that A&JC was able to achieve for them.