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 stakeholders in relation to an Insolvency when we provide advice to a Company or Debtor about their financial difficulties so that we can get a full picture of their circumstances. When a Company or Debtor is subject to formal Insolvency proceedings, the Debtor or controllers of the Company are required to provide certain information.
The types of data we collect, and process can vary, it may include:
Creditors: If you are owed money as an individual (for instance, because you are a sole trader who has not been paid for work you have conducted), we need to know your name, address, contact email (if you have one), confirmation of the amount you are owed and your bank account details. This is so that we can contact you with notification about the case, provide you with an opportunity to exercise your rights as a creditor and facilitate an electronic bank transfer if necessary. We are unlikely to hold any other personal information about you.
Book Debtors: If you are a customer of a Company that is insolvent and haven't paid for the product or service you received, it is likely that we will hold details of your name, address, contact email (if you have one) and confirmation of the amount owed. We need this information so that we can collect any amounts that are due to the Company. We will be unlikely to hold any other personal information about you.
Employees: If you were employed by a Company that has become Insolvent, the Insolvency Office Holder has a number of responsibilities in relation to money that the Company owes you. We are likely to be processing the following information:
We may also have access to your full personnel file, although this will be information we have access to as agent on behalf of your former employer and we do not consider ourselves to be the Data Controller of it, although will use our best endeavors to ensure that it is only processed in accordance with the legislation.
Other Stakeholders: An Insolvency Office Holder will interact with various parties in the course of their investigations into and administrations of the affairs of an Insolvent entity.
In the course of that work, we may come into possession of various items of personal data, such as (but not limited to):
We collect data;
Personal information will only be processed when there is a lawful basis for doing so. Most commonly, we will use personal information collected in connection with Insolvency proceedings for the proper performance of the statutory functions of an Insolvency Office Holder and/or where it is necessary to do so in respect of legal claims.
The situations in which we envisage using your personal information are as follows:
If you fail to provide certain information when requested, you may be unable to assert your rights in the Insolvency proceedings. In some instances, the Insolvency Office Holder 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 the 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 limited number of situations where we might possess special categories of data about stakeholders:
We consider it unlikely that we will be routinely processing special categories of personal data, other than in relation to the claims of employees as against their former employer. In this regard, we will generally be acting as agent on behalf of the Company, rather than as Data Controller.
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 Insolvency 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 advisor 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.
Please note that where a subject access request relates to information held by the Insolvent entity prior to the officeholder's appointment, we are unable to assist as the data controller for personal data processed by the Company or Debtor prior to the Insolvency is the Insolvent entity.