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Case Study – Tradenable, Inc. (software)

Case Study – Tradenable, Inc. (software)

Tradenable was an Internet escrow provider focused on escrows for eBay transactions. This firm was turned over to Armanino for liquidation, with board and shareholder approval, after heavy losses and a lack of funding. Following the turnover, Armanio professionals assumed the roles of CEO, CFO and Controller respectively in the wind down company.

Tradenable had substantial physical assets, so an auction of these assets by Dovebid was arranged, resulting in a substantial cash recovery. A large number of unsettled escrow disputes were turned over to Armanino with the business termination. Funds for these escrows were held in a separate bank account awaiting settlement by the underlying parties to the transactions. Considerable effort was required to nudge these parties to settlement, including taking one escrow to arbitration.