Program Details
2026-12-04 15:30:00
Over 1,000+ webinars
Course Overview
2026-12-04 15:30:00
1.5h CLE Credits
Intermediate
1.5
2:30 pm - 3:15 pm ESTThis session explains why the Uniform Law Commission promulgated the Act and how it makes the ABC an additional state-law method for winding up a distressed business. Attorneys will learn who may be an assignor, which assets are assigned, when an ABC may be made in an enacting state, the qualifications required of an assignee, what the assignment agreement must contain, and when an ABC becomes effective. Attendees leave understanding when an ABC under the Act is an appropriate alternative for a distressed business and how one is put in motion, including how assets are conveyed and how creditors are notified.
Laura N. Coordes
Edwin E. Smith 3:15 pm - 4:00 pm ESTThis session follows the ABC once the assets are in the assignee’s hands: the duties and powers of the assignee, the claims resolution process, the rights of a transferee of assets from the assignee, and the distribution waterfall that determines how creditors are paid. Attorneys will learn when an assignee may be liable to the assignment estate, when a new assignee may be appointed, how the estate is wound up, and the degree of court involvement the Act contemplates. Attendees leave with a working map of the process through the close of the estate, including interstate transactions, variation by agreement, the treatment of non-participating and secured creditors, and the Act’s transition rules.
Laura N. CoordesEdwin E. SmithLaura N. Coordes served as Reporter for the Uniform Law Commission’s Drafting Committee on Assignments for the Benefit of Creditors (2023–2025), after first serving as Reporter for the Commission’s Study Committee on the same subject (2022–2023). In that role, she translated the committee’s policy decisions into statutory text and coordinated with other committees to keep the draft aligned with the Commission’s goals. She is a Professor of Law at Arizona State University’s Sandra Day O’Connor College of Law. Her research focuses on bankruptcy and financial distress, commercial law, large corporate reorganizations, international and comparative insolvency law, and local government finance.
Edwin E. Smith focuses on commercial law and insolvency, both domestic and cross-border, as a Senior Consultant at Morgan, Lewis & Bockius LLP. He advises creditors and counterparties on the insolvency and commercial risks that arise in sales, leasing, financing, investment securities, derivatives, and repo-style transactions, and his work spans workouts, bankruptcies, debt and structured financings, and international transactions. He is also a Uniform Law Commissioner and Life Member for the Commonwealth of Massachusetts.
Laura N. Coordes served as Reporter for the Uniform Law Commission’s Drafting Committee on Assignments for the Benefit of Creditors (2023–2025), after first serving as Reporter for the Commission’s Study Committee on the same subject (2022–2023). In that role, she translated the committee’s policy decisions into statutory text and coordinated with other committees to keep the draft aligned with the Commission’s goals. She is a Professor of Law at Arizona State University’s Sandra Day O’Connor College of Law. Her research focuses on bankruptcy and financial distress, commercial law, large corporate reorganizations, international and comparative insolvency law, and local government finance.
Edwin E. Smith focuses on commercial law and insolvency, both domestic and cross-border, as a Senior Consultant at Morgan, Lewis & Bockius LLP. He advises creditors and counterparties on the insolvency and commercial risks that arise in sales, leasing, financing, investment securities, derivatives, and repo-style transactions, and his work spans workouts, bankruptcies, debt and structured financings, and international transactions. He is also a Uniform Law Commissioner and Life Member for the Commonwealth of Massachusetts.
Requirements
The Alabama State Bar MCLE Commission requires attorneys to complete 12 credits, including 1 ethics, by December 31 of each year. All credits must be reported by February 15 of the following year. A maximum of 12 credits, including 1 ethics credit, may be carried over for 1 year only.
Formats
