Please be advised that Pandigital, Inc (the 'Company'), executed a General Assignment for the benefit of its creditors in favor of Credit Management Association on July 13, 2012 (the 'General Assignment').

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Certainly those concerns line up with a story dug up by Kotaku highlighting the company's plans to file for Assignment for the Benefit of Creditors as a result of the company's troubled financial situation.

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We've heard from some of the people present for the meeting where the new plan was revealed today, confirming the company is going through a process known as Assignment for the Benefit of Creditors (ABC).

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OnLive, Inc. is no more, having cut the bulk of its workforce loose and used an Assignment for the Benefit of Creditors (ABC) to absolve itself of massive debts incurred by the expansion of its services without a corresponding increase in its customer base.

ENGADGET: OnLive's alternative to bankruptcy: just what is an Assignment for the Benefit of Creditors?

Define benefit plans and assign benefits based on eligibility rules to individual employees or through mass assignment.

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