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Never make a promise you can't keep - especially in your privacy policy

Expect the unexpected from your Web site privacy policy. In a handful of cases, including two which were recently decided, companies have been thwarted in various, unexpected ways by the commitments made in their online privacy policies.

Are your intellectual property litigators reading your privacy policy?

USA, Insolvency & Restructuring, Internet & Social Media, IT & Data Protection, Litigation, Proskauer Rose LLP, Bankruptcy, Injunction, Personally identifiable information, Data, Limited liability company, State attorney general, Subscription business model, Federal Trade Commission (USA), Federal Trade Commission Act 1914 (USA), United States bankruptcy court, US District Court for District of New Jersey
British Virgin Islands court rules on the ranking of redeemed shareholders

A recent decision from the Commercial Court of the British Virgin Islands has clarified the position of a redeemed shareholder of a fund who has a claim for redemption proceeds which have become due and payable. In the matter ofWestern Union International Limited v Reserve International Liquidity Fund Ltd., the court considered the status of a redeemed shareholder both before and after the commencement of the liquidation of a fund and the operation of Section 197 of the Insolvency Act, 2003 (the “Act”). Section 197 states that:

British Virgin Islands, Company & Commercial, Insolvency & Restructuring, Litigation, Proskauer Rose LLP, Share (finance), Regulatory compliance, Shareholder, Unsecured debt, Dividends, Market liquidity, Liquidation, Articles of association, Internal Revenue Service (USA), US Federal Government, Internal Revenue Code (USA)