Insolvencies and restructuring

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Introduction

In this section of our privacy statement on insolvencies, the term “company” refers to the company, corporation or institution which is subject to an insolvency or restructuring regime and “debtor” refers to an individual who is subject to an insolvency or restructuring regime (each referred to as an “Insolvency”).

When a company undergoes an Insolvency, one or more PwC insolvency practitioners may be appointed to manage the company’s affairs, business and property. Similarly, when a debtor is subject to an Insolvency, one or more PwC insolvency practitioners may be appointed to manage the debtor’s affairs, business and property.

To find out more about the roles of the company, the debtor, the insolvency practitioners and PwC and why and how personal data is collected and used in connection with an Insolvency, please read the information below.

Roles of the company, the debtor, the insolvency practitioners and PwC

Where PwC insolvency practitioners are appointed:

  • they act in the capacity of agents of the company or debtor in fulfilling the role of managing the company’s or the debtor’s affairs, business and property; and
  • they may process personal data to comply with their own legal and regulatory requirements as insolvency practitioners.

Where PwC insolvency practitioners, the debtor or the company engages PwC to provide services in relation to an Insolvency, PwC may act on behalf of the PwC insolvency practitioners or the debtor or the company as appropriate.

Collection of personal data

The PwC insolvency practitioners collect and process personal data for the purposes of complying with their legal obligations as licensed insolvency practitioners and for the  legitimate interests of the Insolvency.

The nature and amount of personal data the company or debtor has about an individual will depend on the type of company, the nature of the debtor’s business affairs (e.g. industry/sector) and an individual’s relationship with the company or debtor.

Typical personal data processed by the company or debtor may involve employees, officers or directors of the company and would include name and contact details, role/position/title and area of responsibility, other identifying information (eg passport photo, etc) as required by laws and regulations, information about pay and performance.

If you have dealt with the company or the debtor in an individual capacity (e.g. as a customer or a client) then the company or the debtor is likely to hold information about your interactions with the company or debtor (such as purchases and correspondence).

Use of personal data

The company, the debtor and the PwC insolvency practitioners process personal data for the purposes of:

  • the provision of references or reports to financial institutions, regulatory authorities, appropriate bodies in connection with the holding of public office;
  • analysis for management purposes and statutory returns;
  • the provision of business services including the realisation of assets, agreement of claims and the payment of dividends
  • the reasonable and lawful provision of information to interested parties;
  • the calculation and analysis of payroll, billing, credit control and other data relating to the company’s finances and the transfer of such data for use by financial personnel and other appropriate independent third parties;
  • maintaining security of the company, any personnel and data;
  • the prevention and detection of crime or fraud;
  • quality and risk management purposes;
  • compliance with any request from regulatory authorities or other relevant public authorities or agencies;
  • legal proceedings (including prospective legal proceedings);
  • obtaining legal advice;
  • establishing, exercising or defending legal rights;
  • compliance with certain legal obligations to which the company or debtor may be subject;
  • processing for personal purposes of employees in accordance with the law and the company’s and/or debtor’s policies and rules.

The PwC insolvency practitioners may collate, process and disseminate statistics based on an aggregation of data held by them, the company and/or debtor provided that any individual is not identifiable from the resulting analysis and the collation, processing and dissemination of such information is permitted by law.

Data retention

The PwC insolvency practitioners will delete personal data once it is no longer required for the purposes of the Insolvency and the relevant statutory retention periods have passed.

Individuals’ rights

You may exercise your legal rights in relation to personal data by making a written request to the party responsible for your personal information (the company, the debtor or the PwC insolvency practitioners) using the contact details provided in communications about the Insolvency.

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