Assignee for the Benefit of Creditors

• The business as part of a larger group of companies, one of which, FarmLink, Inc. also executed a Missouri common law assignment for the benefit of creditors
• The assets were marketed and when no buyer came forward, the secured lender credit bid against its debt

DSI was hired to be the assignee for the benefit of creditors of what originally was a combine rental business and became an equipment sharing business, a startup designed to aid farmers with crop analysis for future planting and crop rotation. The company hired an investment banker to try to sell the business with over 24 companies executed non-disclosure agreements. Unfortunately, no party offered to buy the assets and the company was then closed and made the assignment for the benefit of creditors.