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?

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?

In brief

Not for the first time in the current pandemic crisis, the UK government has found itself playing catch up with other countries. Over the weekend the UK followed the lead of governments in Germany and Australia by announcing plans to introduce a temporary relaxation of the existing wrongful trading regime for company directors. It has also taken the opportunity to revive the previous government's plans to add to the existing UK insolvency law "toolkit" by introducing a new debtor-friendly restructuring law.

Wrongful trading