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Nigel what is a general assignment a general assignment is an agreement between a debtor company and ass ignore and an acid need to do cear like equitable transitions its a transfer of all assets free and clear of all general unsecured claims also the assing knee takes all those assets and reduces them to cash and creditors have a right to file a claim within 180 days upon the acceptance of assignment when creditors file a claim they agree to participate in the assignment process they agree to all the terms and conditions of the general assignment and if available well be able to make a pro rata distribution to those creditors