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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.
A blog discussing the impact of technology on bankruptcy law and practice.

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Warren E. Agin is a partner in Swiggart & Agin, LLC, a boutique law firm in Boston, Massachusetts focusing on the needs of technology companies. Mr. Agin heads its bankruptcy department. The author of the book Bankruptcy and Secured Lending in Cyberspace (3rd Ed. West 2005), Mr. Agin also chaired the ABA's E-commerce and Insolvency Subcommittee from 1999 to 2005, co-chaired the Boston Bar Association's Internet and Computer Law Committee (2003-2005), and served on the American Bar Association's Standing Committee on Technology and Information Services (2008-2011). Mr. Agin currently co-chairs the Editorial Board of Business Law Today. A contributing editor to Norton Bankruptcy Law and Practice, 3d, and co-author of its chapter on intellectual property for the past fifteen years, he is author of numerous legal articles and addresses on topics of technology, internet and bankruptcy law.

Who will be the Lehman Brothers CPO?
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