Bankruptcy 363 Sales: Avoiding Risks of Post-Sale Liability for Violating Data Breach Reporting and Privacy Laws
Recording of a 90-minute CLE video webinar with Q&A
This CLE webinar will discuss data privacy and data security issues in the context of Section 363 sales, including disclosure obligations and the enforcement of state and federal data security and privacy laws. The panel will consider options for how a potential purchaser can be sure that the business being purchased is in compliance with them, as well as how to mitigate the effects of a data breach on the purchase. The program will review whether a debtor must affirm that it is in compliance with data and security laws and its own privacy policies, whether and how sale-related pleadings do or do not cover these issues, and privacy and data security best practices for Section 363 sales.
Outline
- Obligations imposed by data privacy laws
- Privacy concerns implicated by 363 sales
- Best practices for addressing data privacy concerns and potential pre-sale breaches
Benefits
The panel will review these and other key issues:
- What representations or warranties about compliance with privacy laws should be included in bidding instructions, sales agreements, or other controlling documents?
- What remedies does a purchaser have if there has been a pre-sale data breach that is not discovered until after the sale?
- Can bankruptcy courts waive data breach notification rules the same they waive local ordinances about "going out of business" sales or advertising?
Faculty
Jason Binford
Shareholder
RSB
Mr. Binford Binford draws on his experience over a nearly two-decade career to assist clients in every aspect of... | Read More
Mr. Binford Binford draws on his experience over a nearly two-decade career to assist clients in every aspect of business reorganization, whether inside or outside the courtroom. His understanding of, and experience with, complicated financial and regulatory issues provide an uncommon level of agility and legal sophistication in the representation of debtors, creditor committees, lenders, and every other meaningful stakeholder in large to mid-sized Chapter 11 cases across a diverse set of industries. In addition to his extensive knowledge of regulatory issues in bankruptcy cases, Mr. Binford has experience in several other areas of law relevant to bankruptcy matters including intellectual property, agriculture, and franchise. He is actively involved in the American Bar Association Forum on Franchising, where he published multiple articles in the Franchise Law Journal and was the publication’s associate editor. Mr. Binford is also the co-editor and co-author of The Bankruptcy Handbook for Franchisors and Franchisees, an American Bar Association publication that is the only book to substantively address the complicated intersections between bankruptcy and franchise law. He is also a frequent author and speaker at industry conferences on various issues of bankruptcy. He has been recognized through board certifications from both the Texas Board of Legal Specialization and the American Board of Specialization.
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Kathryn C. Nadro
Partner
Levenfeld Pearlstein
Ms. Nadro is a partner in the firm’s Corporate Group, advising clients on cybersecurity and data privacy... | Read More
Ms. Nadro is a partner in the firm’s Corporate Group, advising clients on cybersecurity and data privacy matters. A Certified Information Privacy Professional (CIPP/US), she helps clients navigate various data security and privacy issues. Ms. Nadro assists clients with policy drafting, program management, and data collection. She also advises clients on best practices for compliance with evolving state, federal, and international data protection laws. Before joining LP, Ms. Nadro was a partner with Raines Feldman Littrell LLP. She is a frequent writer and speaker on data security and privacy issues for organizations such as the ABA’s Tort Trial and Insurance Practice Section’s Cybersecurity and Data Privacy Committee, the Illinois Institute of Continuing Legal Education, and the American Bankruptcy Institute. She is also a member of the International Association of Privacy Professionals, the world’s largest information privacy organization. Ms. Nadro earned her J.D., with honors, from the University of Chicago Law School and her B.A., with honors, from the University of California, Berkeley.
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Abigail R. (Abby) Ryan
Bankruptcy Counsel
National Association of Attorneys General
Ms. Ryan serves as the Bankruptcy Counsel for the National Association of Attorneys General (NAAG). She spent many... | Read More
Ms. Ryan serves as the Bankruptcy Counsel for the National Association of Attorneys General (NAAG). She spent many years as an Assistant Attorney General for the State of Texas. During this time, Ms. Ryan represented clients in Federal District Courts within Texas and Federal Bankruptcy Courts across the country. Her work involved litigation and motions practice on a wide range of legal issues, from federal habeas appeals to environmental matters in bankruptcy to securities laws and to enforcement of privacy laws. While at the Texas Attorney General’s Office, Ms. Ryan actively participated in the continuing legal education committee, serving as both a member and president. She provided legal training to various bar associations, state agencies, and the Texas Attorney General’s Office. Additionally, Ms. Ryan was a recurring presenter at NAAG’s annual bankruptcy conference. She is committed to both the legal profession and community. Ms. Ryan is a member of the Texas Bar College—a professional society of lawyers who are committed high-quality legal trainings. She is also a distinguished member of the Texas Bar Foundation, the largest charitably-funded bar foundation in the nation.
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