Most companies now hold large volumes of personal data – it is almost inevitable due to the interplay between technology and business. This includes companies that become insolvent, but what obligations does a liquidator have in relation to the personal data held by a company?
The past year has seen some important judgments and hearings (with judgment awaited at the time of writing) on several subjects, some of which may shape the future of UK litigation for years to come. Litigants and litigators have also spent a good part of the year getting used to a new way of conducting litigation—remotely and fully electronically. Starting with contract law, while there has been little by way of Supreme Court guidance on the subject, the lower courts continue to issue interesting judgments.
Welcome to our latest edition of FMCG Express! 2020 continues to be an eventful year, although we are cautiously optimistic that we may be turning a corner in Australia. While COVID-19 continues to cast a shadow over our lives, our cities are starting to show green shoots of life, which is welcome news. Our thoughts are with our families, clients, associates, friends and colleagues in countries where numbers are at very concerning levels. In this edition, we have some useful COVID-19 reading. Siobhan Mulcahy considers the ongoing issues of JobKeeper with casual workers.
The new set of Swiss laws on blockchain and distributed ledger technology (DLT; Blockchain/DLT Laws) has been approved by the Swiss Parliament on 25 September 2020 and is thus now in final form. Subject to a referendum, which is unlikely, the Blockchain/DLT Laws will presumably enter into force early next year.
The main topics of the Blockchain/DLT Laws are:
Imagine that IPs have been appointed as administrators of an aerospace engineering company that operates around the world. The company was financially stressed before the COVID-19 pandemic and then sales dried up. With no reasonable prospect in sight, the directors filed for administration and questions have since been raised about how the directors conducted the company’s affairs shortly before it entered administration.
Our regular round-up of recent developments and topics for your radar, news on training and networking events for in-house counsel, and an update on our legal tech initiatives.
HIGHLIGHTS
The Data Protection Commission ("the DPC") has issued useful guidelines for receivers in the context of data protection.
Once a receiver is appointed, they will have access to borrowers' personal data such as the address of the property put into receivership and certain details concerning the borrowers.
The main points of the DPC's guidance are as follows:
The Data Protection Commission has issued guidance on data protection considerations relating to receiverships.
As the receiver, on appointment, will have the name of the relevant borrower as well as the address of the property in receivership, both of which constitute personal data, he or she will have a wide range of data protection obligations. The guidance notes that the receiver is a data controller, in that he or she exercises control over the processing of the personal data, by determining why and how it is processed.
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?
WELCOME TO OUR LATEST EDITION OF OUR TRUSTEE QUARTERLY UPDATE!
LEGISLATION
CORPORATE INSOLVENCY AND GOVERNANCE ACT RECEIVES ROYAL ASSENT
The Corporate Insolvency and Governance Act 2020 received Royal Assent on 25 June 2020. As reported in our last Update, the Act brings in some major changes to the insolvency regime which are potentially relevant to scheme trustees seeking to enforce their rights against sponsoring employers, in particular: