13. Can you explain to me how the assets of the business can be transferred through a General Assignment to another company?
The Assignor transfers the assets to the Assignee (Equitable Transitions) free of all unsecured claims
The unsecured creditors have contractual relationships with the Assignor, but have no contractual or legal rights against the Assignee unless they file a claim
The Assignee is now free to transfer the assets to a third-party provided there
Is an arm's-length negotiation;
The assets are sold for fair value under the circumstances; and
The Assignee has exercised reasonable business judgment in conducting the sale
The third party purchaser receives title to the assets free of the unsecured creditor claims
Unsecured creditors are entitled to participate in the distribution of the proceeds of the sale provided they have first filed a proof of claim, and the time has expired for claim submission
