In a recent report by INSOL International, only 5% of insolvency practitioners (“IPs”) said that they had a “comprehensive or practical/working or understanding” of crypto-currency.
So with over 4,000 types of cryptocurrency now available and as payment technology continues to develop, we look at some issues facing IPs, including
- How to identify cryptocurrency
- How to categorise it
- How to take control of it and sell it; and
- What value does it have
What are cryptocurrencies?
L’affaire Cambridge Analytica aura au moins permis de faire progresser le droit : un tribunal anglais estime que l’administrateur d’une société n’est pas, en règle, coresponsable de traitement avec la société dont il a la charge, et que la liquidation n’y change rien.
Cambridge Analytica ?
L’affaire Cambridge Analytica (autrement appelée affaire Facebook) fut, en 2018, un scandale mondial.
One of a business’s greatest concerns with data storage and backup is security, that is, how can you make sure your data is safe both internally and externally if using cloud solutions? Many businesses do not use cloud based solutions because of the perceived security risks.
In the present fi nancial climate, customers are increasingly asking for business critical software or other assets to be transferred to the customer should the supplier become insolvent, for the legitimate reason that the customer needs security of supply. Two recent Court of Appeal cases remind us that customers who outsource to and contract with potentially vulnerable service providers need to take account of the “anti-deprivation principle” when doing this.
In the matter of Bernard L Madoff Investment Securities LLC [2009] EWHC 442 (Ch), Mr Justice Lewison granted an application for the transfer of personal data in the possession of the joint provisional liquidators of a UK subsidiary to the trustee in bankruptcy of its parent company in the US, Bernard L Madoff Investment Securities LLC. The application was granted on the basis that it was necessary for reasons of substantial public interest.
Consumer Protection
Vacationers Beware: Timeshare Exit Companies May Be Scammers, not Saviors
The Bankruptcy Protector recently discussed notable non-bankruptcy provisions that must be consulted to ensure compliance with privacy issues. In this post, we discuss notable Bankruptcy Code provisions and Bankruptcy Rules on these issues.
Section 101(41) of the Bankruptcy Code—Personally Identifiable Information
Privacy issues implicate several Bankruptcy Code sections and Bankruptcy Rules. The debtor must also comply with non-bankruptcy rules concerning privacy to the extent that such rules are not inconsistent with the Bankruptcy Code. 28 U.S.C. § 959(b).
Demonstrating heightened enforcement efforts by some state regulators, Washington Attorney General Bob Ferguson filed suit against a pair of debt collection companies and their owner, asserting the defendants were operating without a license in violation of state law.
The lawsuit is only the latest example of state attorneys general (AGs) stepping in to fill the void as the Bureau of Consumer Financial Protection (CFPB) has slowed down its enforcement efforts.
What happened
On September 15, 2008, Lehman Brothers declared bankruptcy, an event considered by many to mark the beginning of the credit crisis of 2008–2009 and the unprecedented public policy responses that followed. Much has been written about the multiple contributing factors to the crisis, ranging from predatory lending to Federal Reserve interest rate policy.