Consumer Data In Bankruptcy: Saleable Asset Or Liability?
Law360, New York (April 10, 2015, 10:23 AM EDT) -- A national retailer files Chapter 11 with the intent to liquidate assets. Among the assets to be liquidated are millions of customer email addresses and personally identifiable information collected at the point of sale over the course of many years in operation. Are these consumer records assets that can be liquidated? Or do they present a debtor in possession, trustee, going concern, buyout investor or other potential stakeholder with a liability of legacy data security exposures and privacy violations?
The example above is not uncommon or unique — there have been thousands of retail bankruptcy cases, involving large and small businesses...
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