Stephanie Lieb provided insight on the assignment for benefit of creditors (ABC) filed by CareSync for an article published by the Tampa Bay Business Journal on August 1, 2018. CareSync filed the ABC, which is a state court supervised business liquidation proceeding for insolvent debtors, on July 23 in the Thirteenth Judicial Circuit Court for Hillsborough County. Lieb represents Joseph Luzinski of Development Specialists, Inc., who CareSync has selected as the proposed assignee as the company prepares to cease operations.
“Luzinski and his counsel are working to analyze the present financial condition and to preserve the assets of CareSync,” Lieb said. “To maximize the value of CareSync’s assets, we will be seeking court approval to operate CareSync for a limited period of time and to conduct a marketing and sale process of CareSync’s assets, with the goal of holding a public auction if sufficient interest and bidders exist after the marketing process.”
Luzinski intends to employ liquidation for the assets of CareSync, which will include ensuring that patients’ health information contained on the company’s technology platform is safeguarded.
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