Last month Restructuring Perspectives highlighted crucial issues at the intersection of privacy and distress presented by the Chapter 11 case of 23andMe. Specifically, “Data for Sale” discussed the recent appointment of a “Consumer Privacy Ombudsman” (CPO) charged with assisting the Court in its consideration of the facts, circumstances, and conditions of the company’s proposed sale of personal consumer data.
The ensuing weeks were full of activity. The CPO filed his report (CPO Report) with the United States Bankruptcy Court on June 11. Then, after authorizing the ... Continue Reading
What happens to sensitive personal information shared by consumers when the company collecting that information encounters financial distress? That exact issue is currently front and center in the Chapter 11 proceedings of 23andMe.
23andMe, of course, pioneered widespread access to human genetic information. Over the past two decades, the company has provided consumers with access to testing kits for insight into personalized genetic traits. Such data is valuable not only to individuals submitting the information but also, on an aggregate basis, to research companies ... Continue Reading