Much has been written of late about data breaches and the liabilities for the unauthorized acquisition of Personally Identifiable Information (PII) from institutions. But what about when the alleged “breach”--the release of information --is voluntarily and/or legally compelled? What are the risks to businesses when they sell assets that include PII? What liabilities do they face? What are the rights of customers?

Radio Shack – The pioneer of PII data collection

It is trite to observe that issues related to the insolvency of a company are not arbitrable. However, the generality of this broad proposition can be misleading. In this the first of two articles on the arbitrability of claims, we look at how a court may approach a winding up petition in the face of a claim that the purported debt on which the petition is based relates to a dispute that is to be arbitrated.

The court provides guidance on liability if a subsidiary goes bankrupt because of the misconduct and careless management of its parent company.

Over the last few years, employees have increasingly sought to hold the parent companies of their employers liable for the subsidiaries’ actions by trying to demonstrate that the parent entity is the employee’s co-employer, i.e., that the employee has two employers: the company that hired him or her and its parent company.

To demonstrate this co-employment situation, the employee must prove either that

On Monday, we released three new research indices tracking distress in U.S. financial markets.   

The indices use Chapter 11 bankruptcy filing data to signal underlying financial distress which may not be reflected in broader stock market averages.  The indices and the full quarterly report can be found at www.distressindex.com.

The “FBT/TrBK Distress Indices” comprise three different measurements based on Chapter 11 filings:

The new law extends the grounds for shareholders’ liability and invalidation of transactions.

On 26 March 2014, the new Rehabilitation and Bankruptcy Law (the New Law) took effect in Kazakhstan. The New Law supersedes the Bankruptcy Law adopted in 1997 (the Old Law).

The theory of universality in insolvency, along with globalisation, has gained much traction across many jurisdictions in recent years. Briefly, the universality theory proposes that an insolvency proceeding has worldwide effect over all the assets of the insolvent company, wherever they may be.

The term “globalisation” is associated with expansion and the free movement of capital and resources. Funds raised in Country A can be invested in a variety of different countries for better returns. In times of economic expansion, it can be unfashionable to consider insolvency issues. This may explain why insolvency practitioners find themselves holding many discussions among themselves.

High Court holds that reports used by the Serious Fraud Office to obtain search and arrest warrants are not subject to litigation privilege in subsequent civil proceedings.

UK Supreme Court decision confirms traditional rules on enforcement of all US judgments in England and reverses a significant liberalisation of cross-border bankruptcy law.

As electronic discovery has become more prevalent and voluminous, national standards for the preservation of evidence have evolved dramatically in the past decade. Through a proliferation of electronic discovery orders involving discovery compliance, courts have addressed when the duty to preserve evidence arises, signifying a party’s duty to issue a “litigation hold.” Courts have not answered, however, whether a party can withhold documents generated before issuing a litigation hold on the basis of work product protection.