Teters Floral Products, Inc. Missouri ABC Teters executed a general assignment for the benefit of creditors pursuant to Missouri common law, in favor of DSI Assignments, LLC. Teters owed Bank of America approximately $800,000 on its revolving line of credit, which was secured by a lien on all of Teters assets. Bloom Finance Company, LLC […]
30 April, 2024
Coldwater Direct, LLC Coldwater Direct was the successor to the failed bankrupt Coldwater Creek women’s clothing stores and e-commerce business. The company, along with its related companies, executed assignments under Delaware law to accomplish the liquidation. A group of unsecured creditors were concerned that the assignment for the benefit of creditors was an attempt to […]
30 April, 2024
Bluefly, Inc. and Bluefly Holdings, Inc. DSI was hired to be the assignee for the benefit of creditors of this “E-Tailer,” selling women’s fashions across a broad spectrum of tastes. The secured creditor supported the assignment process as it had located a buyer for the assets pre-assignment. The Chancery Court required additional marketing of the […]
30 April, 2024
Assignee for the Benefit of Creditors The closure of the store and company ended the years of this once highly successful business. After liquidation of the remaining inventory and resolving claims arising from the sale of interests in the company, among others, creditors received a small recovery on their claims, including that of the landlord, […]
30 April, 2024