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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
The need for a legal ground to stand on: a shareholders class action is dismissed at the authorization stage for failure to meet article 1003 b) C.p.c. (Groupe d’action d’investisseurs dans Biosyntech c. Tsang, 2015 QCCS 3265)

In the spring of 2010, BioSyntech, a start-up biotechnology company, developing a cartilage-repair product, BST-Car Gel, filed a Notice of Intention to make a proposal under the Bankruptcy and Insolvency Act. In the subsequent bankruptcy proceedings, the intellectual property relating to the BST-Car Gel was sold.

Canada, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP