Intellectual Property and Data Protection issues on insolvency

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Data protection and intellectual property assets

If most insolvency lawyers and practitioners were being honest, they would admit to generally avoiding matters of data protection and intellectual property as far as possible and passing these to their more specialist colleagues. However, the era has come where it is no longer possible to deal with any sort of trading insolvency or prepack, or even to advise most directors now without the requirement for some working knowledge in these areas. The notes in this subtopic aim to provide some basic information on these issues and to enable the reader to link to some more specialist reading on these subjects.

Intellectual property

Intellectual property issues that may arise on the insolvency of a company

For many businesses, intellectual property rights (IPRs) represent an increasingly valuable asset class. While modern technology businesses, pharmaceutical companies and industrial enterprises may be among those most synonymous with having portfolios of IPR-rich assets, even the most unlikely of companies may have rights which are intrinsic to them and without which they would be unable to operate (or to do so as efficiently or

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Insolvency Service forces fraudulent online pet supply company to cease all operations

The Insolvency Services has reported the shut down of Funnyfuzzy UK Co.Ltd for providing its customers with inferior and defective pet supplies. Following the Insolvency Service's investigation, it was revealed that the company had been misleading its customers by providing them with second-rate merchandise; failing to deliver ordered items; and refusing to issue refunds while lodging fabricated dormant accounts and evading VAT registration.

Directors’ liability for company’s debts under section 217 of the Insolvency Act 1986 and rule 22.17 of the Insolvency Rules 2016 (Maxima v Fealy and Barrett)

Restructuring & Insolvency analysis: The High Court has dismissed a claim brought by an assignee of creditors' debts against individuals who were directors of a company in liquidation and a second company which was operating under a prohibited name pursuant to section 216 of the Insolvency Act 1986 (IA 1986). The defendants successfully argued that the second company fell within ‘The Third Excepted Case’ under the Insolvency Rules 2016 (IR 2016), SI 2016/1024, r 22.7, and that the second company had been known by its name for the entire 12 months prior to the first company's liquidation and had not at any time in those 12 months been dormant. The case is thought to be the only reported case on the true meaning and effect of the second of the two elements of The Third Excepted Case and demonstrates that the principles of corporate accounting law on non-dormancy cannot be translated from an accounting to an insolvency scenario. The concept of phoenix syndrome and the principle against doubtful penalisation were also considered. Written by Laura Newbery, legal director at Addleshaw Goddard LLP.

Top UK court rejects Bedzhamov Russian bankruptcy order

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Restructuring & Insolvency weekly highlights—21 November 2024

This week's edition of Restructuring & Insolvency weekly highlights includes: confirmation by the Supreme Court of the immovables rule to English property (Kireeva v Bedzhamov), the publication by the Insolvency Service of its monthly insolvency statistics for October 2024, an analysis on the interface between property law and financial remedy in the context of bankruptcy (DDR v BDR), plus a round-up of other news and cases for restructuring and insolvency professionals.

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