By Larry Chiang
Bankruptcy is also known as “Bk”
For startups, the shutdown is not a normal asset liquidation with re-org. It is Assignment Benefit of Creditors. ABC. It is not to be confused with ABCD…
…ABCD is “American Born Chinese Dog” = Shih Tzu.
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Larry Chiang (@LarryChiang) |
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“VCs had left it for dead and the BK lawyers had a pre-pack ABC cued. An ABC is ‘assignment benefit of creditors'” quora.com/For-a-young-st…
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Bk/ABC
Industry lingo for Bankruptcy via Assignment Benefit of Creditors. See chris @a16z’s “ABC” tweets by “summize searching in $twttr
American Born Chinese
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