As businesses and individuals grapple with the reverberating impact of the pandemic and rising interest rates, our Bankruptcy and Creditor Rights team stands ready to address the inevitable, residual bankruptcy and other insolvency events to come.
Hackett Feinberg delivers sage legal and industry experience and insight into guiding information management and storage industry clients through all types of insolvency events.
Our lawyers understand the details and pressure points of the specific challenges unique to data storage and recovery and the information management industry as a whole. Our fluency in all types of storage of physical and electronic records ranges from patient medical records to data management to film, sound, and fine art. We are well versed in the pitfalls that occur in insolvency events.
Because of our longevity of practice and understanding of warehousing and information management, we develop strategies that are effective in enforcing warehouse liens under Article 7 of the Uniform Commercial Code. Our refined Article 7 abilities support us in predicting certain issues that often arise in this context. As a result, we devise concrete plans of action to resolve such roadblocks to progress.
Most businesses today store records and data with a third-party business so bankruptcy filings will impact those storage companies. Often, the debtor or trustee is unaware or does not account for the storage of important records that likely contain personal identifiable information, HIPAA-protected information, and confidential information.
In these cases, we contact the debtor or trustee immediately and work diligently to obtain administrative expenses and cure payments while also making the appropriate disposition arrangements with respect to the debtor’s records. Our team then constantly monitors the bankruptcy cases to ensure that the storage company, as a creditor, is protected.