Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “What is a small business bankruptcy ?”
Most entrepreneurs don’t start a new business by planning for their bankruptcy. If they care about their customers’ privacy, perhaps they should.
In July, Crumbs Bake Shop, Inc.—a publicly held purveyor of cupcakes and other baked goods—filed a motion in its Chapter 11 bankruptcy to obtain permission from the United States Bankruptcy Court for the District of New Jersey to auction off its intellectual property. The intellectual property up for auction included the names, phone numbers and addresses of Crumbs customers.
A company named Lemonis Fischer Acquisition Company proposed to purchase the property—including the Crumbs consumer data. Before it could consummate its purchase, however, a United States Bankruptcy Trustee filed a motion aimed at protecting the consumer data.
Issues relating to consumer privacy and the sale of business property in bankruptcies are not new, and bankruptcy courts have wrestled with the dilemmas raised by sales that include sensitive consumer data, particularly in bankruptcies in the healthcare field.
If you find yourself needing the services of a Charlotte, North Carolina bankruptcy attorney, please call the skilled lawyers at Arnold & Smith, PLLC find additional resources here. As professionals who are experienced at handling all kinds of bankruptcy matters, our attorneys will provide you with the best advice for your particular situation.
About the Author
Bryan Stone is a Partner with Arnold & Smith, PLLC, where he focuses his practice on all aspects of bankruptcy, including: Chapter 7, Chapter 11, Chapter 13, home loan modifications and landlord-tenant issues.
A native of Macon, Georgia, Mr. Stone attended the University of Georgia, where he earned a BBA in Banking and Finance, and Wake Forest University School of Law, where he obtained his law degree.
Following law school, Mr. Stone relocated to Charlotte, where he currently serves as Chair of “Bravo!” – a young professionals organization associated with Opera Carolina – and founded the University of Georgia Alumni Association of Charlotte.
In his spare time, Mr. Stone enjoys perfecting his barbeque skills for the annual “Q-City BBQ Championship” and playing softball in the Mecklenburg County Bar softball league.
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