Science, Computers & Technology Bankruptcy

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Transferring Customer Data in an Asset Sale

Be careful what you’ve promised your customers…or what has been promised about data you buy! In today’s world, consumer data is a huge asset for companies across all industries, in particular those in...more

Debtor’s Founder Ordered to Turn Over Social Media Accounts to Reorganized Company

A recent bankruptcy court decision highlights the importance of Facebook pages, Twitter accounts, and similar social media assets in today’s business marketplace. It’s not always clear how these might be best protected, but...more

Business Litigation Report - May 2015

In This Issue: - Main Article: ..Patent Infringement in the Digital Age: How a Dispute About Tooth Aligners Led to a Fight About the ITC’s Jurisdiction over Electronic Transmissions - Noted With...more

FTC, State Regulators, and Apple Weigh in on RadioShack Customer Data Sale

RadioShack filed for Chapter 11 bankruptcy in Delaware bankruptcy court in February, seeking a court-supervised sale of $1.2 billion in assets. Included in the sale is a database of customer information from about 1,700...more

Privacy Concerns Jeopardize Sale of RadioShack Customer Data

When it comes to customer data, privacy and value can be in direct competition. RadioShack’s latest move is a good example. Earlier this week, RadioShack, which filed Chapter 11 bankruptcy in February, commenced an...more

Objections To Radioshack’s Sale of Customer Data Cause Static In Advance of Auction

Uncertainty will hang over the upcoming bankruptcy auction of RadioShack’s intellectual property, franchise infrastructure, and customer data pending resolution of an ongoing struggle between RadioShack and several states’...more

Lessons From Mt. Gox Bankruptcy

MtGox Co., Ltd., once the world’s largest Bitcoin exchange company, is insolvent, bankrupt, and now history. This history offers lessons to cryptocurrency startups. ...more

Customers Submit Claims in Mt. Gox Bankruptcy

Thousands of creditors may receive disbursements from the bankruptcy of MtGox, Co. Ltd., a Japanese corporation that once ran the world’s largest Bitcoin exchange. The bankruptcy filing last year was a rude awakening to Mt....more

Insolvency: What Every Technology Company Needs to Know About Claims Against Bankrupt Customers And Business Partners

Every year, otherwise successful technology companies lose untold sums of money and valuable intellectual property rights because they do not act when a customer or business partner files for bankruptcy protection. Far less...more

Tronox: The Weed that Choked a Flower – Lessons for Buyers on Remedies

As we noted in Parts 1 and 2 of this series, any buyer of assets from a company in any degree of financial stress should be concerned about the transaction being attacked as a fraudulent transfer. Officers and directors of a...more

Toysmart Pt. Deux

An auction of RadioShack assets which concluded this week included the names and physical addresses of 65 million customers and email addresses of 13 million customers. The auction result and transfer of assets is still...more

Derivatives in Review - March 2015

NYDFS Releases Revised BitLicense Proposal - On February 4, 2015, the New York State Department of Financial Services ("NYDFS") released a revised version of its proposed virtual currency regulations (commonly referred...more

ProNerve Holdings, LLC, A Colorado Based Provider of Intraoperative Neurophysiologic Monitoring (IOM) Files for Chapter 11...

On February 24, 2015, ProNerve Holdings, LLC and 8 affiliated companies filed voluntary chapter 11 petitions in Delaware. The case is docketed at 15-10373, and has been assigned to The Honorable Kevin J. Carey....more

Continuity of supply of essential services to be guaranteed during business recovery (UK update)

Following a consultation on the issues last year, an Order was laid before the UK Parliament on Monday (9 February 2015) to prevent suppliers of water, gas, electricity, communications services and IT from cutting off supply...more

Altegrity, Inc., Global Provider of Risk Solutions, Files Chapter 11

Altegrity, Inc., who bills itself on its website as “The world’s leading brands in risk solutions, security, ediscovery, data recovery and employment screening,” filed for chapter 11 protection in Delaware on February 8,...more

Business Litigation Report -- December 2014

In This Issue: Main Article: - Cloud Computing: Legal Issues on the Horizon Noted With Interest: - Stays Pending Covered Business Method Patent Review: VirtualAgility v....more

Blog: U.S. Supreme Court Denies Review In Jaffe v. Samsung, Letting Stand The Fourth Circuit’s Decision Applying Section 365(n) To...

On Monday, October 6, 2014, the U.S. Supreme Court issued an order denying the petition for a writ of certiorari in the Jaffe v. Samsung case, also known as the Qimonda case. The Supreme Court let stand the Fourth Circuit’s...more

Bankruptcy and Intellectual Property: Trademark Licenses, Chapter 15, and Pending Legislation

Introduction - Recent cases have addressed the interplay between intellectual property and bankruptcy, including trademark licenses and Section 365(n)’s application in Chapter 15 cases. Proposed legislation could...more

UK Government Consults on Mandatory Supply of IT Services to Insolvent Customers

The UK Government has released a long awaited consultation document proposing new controls on IT suppliers’ dealings with customers facing insolvency. To a degree this brings the termination provisions of the UK’s...more

Flaa v. Montano, C.A. No. 9146-VCG (Del. Ch. May 29, 2014) (Glasscock, V.C.)

In this post-trial decision in a proceeding pursuant to 8 Del. C. § 225, the Court of Chancery invalidated stockholder action by written consent on the ground that the proxy solicitation materials failed to disclose an...more

Secured Lender Protection Limited When Bitcoin is Collateral

On June 17, 2014, the U.S. Bankruptcy Court in Dallas granted recognition under chapter 15 of the Bankruptcy Code of the bankruptcy proceeding in Japan of failed bitcoin exchange, Mt Gox. Mt. Gox shut down after claiming to...more

Orrick's Derivatives in Review - March 2014

Publication of 2014 ISDA Credit Derivatives Definitions - On February 21, the International Swaps and Derivatives Association, Inc. announced the publication of the 2014 ISDA Credit Derivatives Definitions, which...more

Bitcoin - Turbulent Waters - Part Seven

“Virtual currencies”, and bitcoin in particular, continued to attract a lot of attention. The sudden demise of Mt. Gox (Japan), one of the largest bitcoin exchanges, adds to the mystery and mistrust surrounding the virtual...more

Gone Baby Gone — Recovery of Stolen Bitcoins in Mt. Gox Bankruptcy

Mt. Gox filed for bankruptcy protection in Japan alleging that nearly all of the exchanges’ 850,000 bitcoins worth half-a-billon dollars had been looted by hackers. Customers were left asking whether any of their bitcoins are...more

Business Litigation Report -- February 2014

In This Issue - Firm News: ..Kathleen Sullivan Featured in December 2013 The American Lawyer Cover Story ..Quinn Emanuel Named to BTI’s 2014 “Client Service A-Team” Honor Roll Main Article: ..Overview...more

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