What is an Assignment for the Benefit of Creditors (ABC)? An Assignment for the Benefit of Creditors (ABC) is a state law insolvency proceeding wherein a company, realizing it cannot continue its operations and meet its financial obligations, voluntarily transfers all its assets to a third-party assignee. The assignee then takes responsibility for liquidating the...
From the Desk of Dr. Doom, Chief Restructuring Officer: Trigger Warnings: VC indecisiveness, looming debt I landed in Nashville last night after a call from a friend investor, Beatrice. Always intelligent and direct, Beatrice got straight to the point. “I need your help,” she began, her voice devoid of any fluff, “I have an amazing...
From the Desk of Dr. Doom, Chief Restructuring Officer: Trigger Warnings: Uncontrollable engineer spend In a world where startups rise and fall at the drop of a hat, my reputation preceded me. They called me Dr. Doom, not because I brought the end, but because I could discern when it was inevitable and how to...
From the Desk of Dr. Doom, Chief Restructuring Officer: Trigger Warnings: Miscalculated Revenue In the heart of Silicon Valley, where million-dollar deals were made over a cup of artisanal coffee and a maple bacon donut, yet 90% of companies fail, I was a beacon of hope and despair. They called me Dr. Doom, the Chief...
From the Desk of Dr. Doom, Chief Restructuring Officer: Trigger Warnings: Disgruntled Employee Silicon Valley, 2017. A land of dreams, where some soared high while others plummeted. For over a decade, I’d made my mark not in crafting dreams but in closing their chapters, wearing the title of Chief Restructuring Officer with a mix of...
From the Desk of Dr. Doom, Chief Restructuring Officer: Trigger Warnings: Uncontrolled Debt, Zero Profitability It was a routine morning when my inbox flashed with an introduction email from Bailey, a known board member from the industry. The subject: “Harry’s Crisis: Urgent Intervention Needed”. The content was straightforward; Harry’s decade-long dream startup venture was in...
Why do you need an employee handbook anyway? If someone doesn’t know the rules for PTO or how to sign up for benefits, they can just ask. Right? Wrong! Without an employee handbook, your HR professionals could spend most of their time answering the same questions. To prevent misunderstandings and save the sanity of your...
Your company is growing quickly, which is fantastic, but your accounting has also become more complicated. With more cash coming in, aging invoices to pursue, and investors to attract, you simply need more help running your financial and accounting functions. A quick review of the budget reveals little room for a permanent, full-time controller. What...
A search fund is an investment vehicle used to raise capital to support specific operators in search of a business to acquire. Search fund accounting involves the financing, recordkeeping, and due diligence that goes along with this process. More importantly, post-acquisition, newly minted entrepreneurs often rely on seasoned accounting executives to guide them through their...
When you recognize the contributions and accomplishments of employees, you foster employee engagement, boost morale, and create a culture of gratitude and respect. Having a strategic recognition program can give employees the drive to work through difficult projects. Ultimately, it can improve employee retention and productivity, boosting your bottom line in the process. Ravix Group...
