B&N's $14M Borders IP Buy Held For Privacy Concerns

Law360, New York (September 22, 2011, 7:14 PM EDT) -- A New York bankruptcy judge on Thursday refused to approve bankrupt Borders Group Inc.'s plan to sell its intellectual property to former rival Barnes & Noble Inc. for $13.9 million, citing privacy concerns related to the transfer of customer lists.

State attorneys general, the Federal Trade Commission and an independent privacy ombudsman have expressed some unease at the lists' sale, since Borders' privacy policies might not permit the bankrupt bookseller to transfer parts of its customer lists to a third party.

U.S. Bankruptcy Judge Martin Glenn...
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