Everyone loses here. It’s no longer possible to trust any organisation with your data, because no matter what they say or do, they have no control over what will happen to it if they ever become insolvent.
GDPR should in theory prohibit them from putting it for sale in the first place in a bankruptcy scenario, but if they are bound to disappear, there’s no one to go after so idk…
I’m mentioning European regulations in a post about an American airline company just because you said any, and yeah, I’m bound to disagree there.
In any case, I already didn’t trust any American company since they can be subpoenaed and they are bound by law to give all the data to the government, which looks as or more evil than the general evil American company rn.
But it’s not the company itself putting those assets up for sale. It’s the court-approved or court-appointed bankruptcy trustee of that company, executing transactions approved by the court. That’s why bankruptcy has to go through court, but it also provides a level of immunity (commonly called “exculpation” in bankruptcy cases) to the individuals actually doing the things ordered by the court.
If it’s illegal to do, a court shouldn’t be ordering it, so the affected people should have to fight the court order before it happens. But it’s not illegal to sell anonymized user data like this, and not illegal to sell employee work-related data, either, in the U.S.
Everyone loses here. It’s no longer possible to trust any organisation with your data, because no matter what they say or do, they have no control over what will happen to it if they ever become insolvent.
GDPR should in theory prohibit them from putting it for sale in the first place in a bankruptcy scenario, but if they are bound to disappear, there’s no one to go after so idk…
I’m mentioning European regulations in a post about an American airline company just because you said any, and yeah, I’m bound to disagree there.
In any case, I already didn’t trust any American company since they can be subpoenaed and they are bound by law to give all the data to the government, which looks as or more evil than the general evil American company rn.
There absolutely is, a dissolved company still has history. Find the directors and hang them.
But it’s not the company itself putting those assets up for sale. It’s the court-approved or court-appointed bankruptcy trustee of that company, executing transactions approved by the court. That’s why bankruptcy has to go through court, but it also provides a level of immunity (commonly called “exculpation” in bankruptcy cases) to the individuals actually doing the things ordered by the court.
If it’s illegal to do, a court shouldn’t be ordering it, so the affected people should have to fight the court order before it happens. But it’s not illegal to sell anonymized user data like this, and not illegal to sell employee work-related data, either, in the U.S.