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Expert Analysis

Can A Privacy Policy Hinder Liquidation Of Assets?

Law360, New York (October 24, 2011, 1:44 PM EDT) -- Could my privacy policy hinder the liquidation of my company's assets? Possibly, yes. Since defunct online toy store Toysmart's privacy policy precluded its liquidation sale of its customer list a decade ago, most privacy policies have included a provision that allows the sale of customer lists in the context of mergers, acquisitions, bankruptcies and other corporate restructuring. In fact, this issue has arisen in the bankruptcy context several times since the Toysmart case. However, some privacy policies still do not squarely address the circumstances in which a company is liquidating or dissolving....

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