DMG Case Studies

The company required outside council to operate the business during the Assignment for the Benefit of Creditors (ABC) process. Diablo Management Group (DMG) was engaged to serve as assignee during the ABC process. Richard Couch assumed fiduciary control of Oakville Grocery, while Michael Cronin served as project manager.

1. Adhering to ABC requirements
2. Close the business with the highest return to creditors

Throughout this assignment DMG conducted all operations, while preparing the business for sale. An auction was hosted among various bidding parties and Oakville Grocery was sold to highest bidder.

• Transferred company assets and operational control from old management to new buyer
• Adhered to all timeframes imposed by courts and the Proof of Claim process
• Assumed responsibility for and managed the shutdown of 401(k) plan
• Distributed claims on assets to general unsecured creditors of Oakville
• Successfully sold Oakville to Leslie Rudd Investment Company