Tech Bankruptcy
September 16, 2008
Who will be the Lehman Brothers CPO?
Lehman Brothers has consumer customers, they have personal information, and they have privacy policies. And, judging from the television news shots of employees leaving with boxes tucked under their arms, I am guessing that Lehman Brothers will be selling off assets.
So, that raises the question. Will there be a consumer privacy ombudsman for the Lehman Brothers' case? The main case, In re Lehman Brothers Holdings, Inc., was filed in the Southern District of New York as case no. 08-13555. Judge Peck is the winner of this particular lottery.
Maybe there won't be a CPO. According to a press release issued by Lehman Brothers, only the holding company filed. No other US subsidiary or affiliate was included. This means that the divestiture of assets will likely be through the sale of subsidiary entities, not through asset sales. And, very likely, that means the CPO provisions of section 363 won't be implicated.
On the other hand, who knows. ¶ 9:52 AM 0 comments
So, that raises the question. Will there be a consumer privacy ombudsman for the Lehman Brothers' case? The main case, In re Lehman Brothers Holdings, Inc., was filed in the Southern District of New York as case no. 08-13555. Judge Peck is the winner of this particular lottery.
Maybe there won't be a CPO. According to a press release issued by Lehman Brothers, only the holding company filed. No other US subsidiary or affiliate was included. This means that the divestiture of assets will likely be through the sale of subsidiary entities, not through asset sales. And, very likely, that means the CPO provisions of section 363 won't be implicated.
On the other hand, who knows. ¶ 9:52 AM 0 comments
