In this section, the term "Company" refers to the business which is subject to an Insolvency or restructuring regime (each referred to as an "Insolvency").
Definitions under Data Privacy Laws:
The data controller for personal data processed by the Company prior to the Insolvency is the Company. Upon appointment, the Insolvency Practitioners act in the capacity of agents of the Company in fulfilling the role of managing the Company's affairs, business and property and so the Company continues to be the controller for personal data collected and processed in this context.
The Insolvency Practitioner will typically be the Data Controller in respect of the information the personal data they process to comply with their own legal and regulatory requirements as Insolvency Practitioners.
FRP may act as a data processor on behalf of the Insolvency Practitioner or the Company as appropriate in relation to the engagement.
We collect personal data about our clients in relation to a Corporate Insolvency (directors, shareholders, partners and owners) which is necessary to effectively deploy our professional services as agreed with our clients.
The types of data we collect, and process can vary, it may include:
In limited circumstances, we may also collect, store and use "special categories" of more sensitive personal information. Please see "Special Categories (sensitive) Personal Data" for more details.
We collect data;
We process your personal data for various purposes including (but not limited to):
||We have a legitimate interest in using your data for these purposes, as it helps us to manage our relationship with you. We have carried out a Legitimate Interests Assessment (LIA) whereby we have weighed your interests and the risks posed to you against our own interests and consider that they are proportionate and appropriate.|
||We do this to comply with our contractual obligations.|
The processing is necessary for compliance with our obligation under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulation 2017.
Any personal data received as part of our AML process from a corporate client will be processed only for the purposes of preventing money laundering and terrorist financing, unless:
||We have a legitimate interest in using your personal data in this way, as it helps us to run our business and to safeguard our rights as a business.|
||We do this to comply with our legal, regulatory and professional obligations. Where we do not have a legal obligation, we have a legitimate interest in processing personal data necessary to meet our regulatory or professional obligations.|
||We do this to comply with our legal obligations under the Insolvency Act 1986.|
If you fail to provide certain information when requested, we may take steps to compel you to provide it in Court and/or to acquire the information we need to properly administer the affairs of an insolvent Company from third parties.
Some categories of personal data are considered by law to be particularly sensitive and are therefore classed as "special categories" of personal data. These relate to a person's racial or ethnic origin, political opinions, religious or similar beliefs, trade union membership, physical or mental health conditions, sexual life, sexual orientation, biometric or genetic data. This type of data is afforded additional protection.
There are a number of situations where we might possess special categories of data about you:
Information about criminal convictions
We envisage that we may hold information about criminal convictions where these are relevant to the causes of failure of the Company or the performance of the functions of an Office Holder. If it becomes necessary to do so, we will only use this information where we have a legal basis for processing the information. This will usually be where such processing is necessary to carry out the role and function of an Insolvency Office Holder.
We may also use information relating to criminal convictions where:
We will only collect information about criminal convictions if it is appropriate given the nature of the role of a restructuring adviser or Insolvency Office Holders. Relevant convictions would typically be those relating to theft, fraud or dishonesty, money laundering or terrorist financing.
We do not share or disclose any of your personal data without your consent, other than for the purposes specified in this notice or where there is a legal requirement. When we share data with others, we ensure contractual arrangements and security mechanisms are in place to protect the data and to comply with our data protection, confidentiality and security standards.
Your personal data may be shared with:
Occasionally, we may also need to disclose your personal data in the following circumstances:
We only ever retain personal data for as long as is necessary for the purposes for which it was collected, and we have strict review and retention policies in place to meet these obligations. We keep personal data in accordance with our internal retention policies, which are determined in accordance with our regulatory obligations and good practice.
We retain records collected and created in Formal Insolvency matters for 7 years after the conclusion of the case administration and the officeholder's discharge of appointment.
Please read this section in addition to the main rights section.
Your rights in relation to the personal data that we process will depend upon the lawful basis or bases upon which we are holding it. This will vary depending upon where the information has come from (yourself or a third party, such as the Official Receiver in an Insolvency situation) and the nature of our relationship with you. Personal data may be held for more than one lawful basis. Details of the basis or bases we believe we have for processing your data can be found in the relevant sections of our Privacy Notice.