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Transferring Personally Identifiable Information in Bankruptcy M&A

With data privacy issues constantly in the news, what do businesses need to know about handling personal information when they’re considering bankruptcy, especially if some personal information – like customer records – may be a valuable asset?

Global, USA, Insolvency & Restructuring, IT & Data Protection, Weil Gotshal & Manges LLP, Personal data, Title 11 of the US Code, GDPR, California Consumer Privacy Act 2018 (USA)
Transferring Personally Identifiable Information in Bankruptcy M&A

With data privacy issues constantly in the news, what do businesses need to know about handling personal information when they’re considering bankruptcy, especially if some personal information – like customer records – may be a valuable asset?

USA, Corporate Finance/M&A, Insolvency & Restructuring, IT & Data Protection, Litigation, Weil Gotshal & Manges LLP, Personal data, Federal Trade Commission (USA), Title 11 of the US Code
Procedure for voluntary liquidation under the BVI Business Companies Act

This Briefing addresses the usual manner in which solvent voluntary liquidations proceed. The discussion is subject to the particular provisions of the Memorandum and Articles of Association of any company seeking a voluntary liquidation.

Where a company is not a regulated entity, has no liabilities and is able to pay its debts as they come due, a voluntary winding up and dissolution may be commenced by a resolution of directors.

Where it is proposed to appoint a voluntary liquidator, the directors of the company shall:

British Virgin Islands, Insolvency & Restructuring, Private Client & Offshore Services, Bedell Cristin, Liability (financial accounting), Liquidation, Liquidator (law)