Assignee Unknown

The Curious Cases of SmartLabs, Shine Bathroom Technologies, Liftopia, GlassPoint, SolarReserve, Maker Media, & Toymail.

Like a mystery? Like stories of corporate financial distress?

Enjoy both at once.

I wrote an article that looks at one of the tools that companies, their owners, and their creditors use when that the company in question is insolvent: the "assignment for the benefit of creditors." An ABC shares some commonalities with a chapter 7 bankruptcy and some other things with a chapter 11 bankruptcy. Yet an ABC and bankruptcy are very different creatures.

The article will be of particular interest to any company or person who did business with any of the following companies or their predecessors before they or their predecessor used the ABC process:

• Insteon,
• Liftopia.com,
• Clocky (Toymail),
• Make: (Maker Media),
• SolarReserve, Inc. or SolarReserve, LLC (the company founded by Kevin Smith, now of Lightsource bp),
• GlassPoint Solar,
• and Shine Bathroom

It is way too long to post here. But you can read it here: Assignee Unknown: The Curious Cases of SmartLabs, Shine Bathroom Technologies, Liftopia, GlassPoint, SolarReserve, Maker Media, & Toymail. (And if you like it, you should subscribe to to DailyDAC Weekly (it's easy and free- you do so here).