Insolvencies and restructuring
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 partners or directors ("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 from a data protection perspective, why and how personal data is collected and used in connection with an Insolvency and individual's rights and how to exercise them, please read the information provided below.
Dedicated websites are created to provide specific information about larger Insolvency appointment and, where that is the case, you should refer to the relevant website for further information about that Insolvency.
Roles of the company, the debtor, the insolvency practitioners and PwC and sharing of personal data
Data protection law contains the concepts of controllers and processors:
- A controller is an individual or legal person who decides how and why personal data is processed. A controller is in control and is responsible for the collection, keeping and use of personal data.
- A processor is an individual or legal person (other than an employee of a controller) which processes personal data on behalf of a controller.
The controller for personal data processed by the company or the debtor prior to the Insolvency was the company or the debtor.
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 so the company or debtor continues to be the controller for personal data collected and processed in this context; and they act as separate controllers where they process personal data to comply with their own legal and regulatory requirements as insolvency practitioners.
Where PwC insolvency practitionres, the debtor or the company engages PwC to provide services in relation to an Insolvency, PwC may act as a data processor on behalf of the PwC insolvency practitioners or the debtor or the company as appropriate. Other processors may be used for specific purposes. Further details about the processors (such as IT service providers) used by the PwC insolvency practitioners and PwC and locations of processing are provided here.
Collection of personal data
The PwC insolvency practitioners collect and process personal data for the purposes of complying with their legal obligations as insolvency practitioners and for the legitimate interests of the Insolvency and so consent from individuals for this processing is not required.
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, certain 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 complying with the following legal obligations and/or legitimate interests:
- 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; and
- 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.
The relevant PwC insolvency practitioners retain data collected as a consequence of their legal and statutory obligations for 6 years after the discharge of their appointment in the Insolvency or unless otherwise ordered by the High Court of Justice in the Isle of Man.
Individuals’ rights
Individuals have certain rights over their personal data and controllers are responsible for fulfilling these rights. Individual’s rights may include the right of access to personal data, to rectification of personal data, to erasure of personal data / right to be forgotten, to restrict processing of personal data, to object to processing of personal data, to data portability, the right to withdraw consent at any time (where processing is based on consent) and the right to lodge a complaint with a supervisory authority (further information about when these rights are available is provided here.
You may exercise your rights by making a written request to the relevant controller (the company, the debtor or the PwC insolvency practitioners) using the contact details provided in communications about the Insolvency. The request should contain sufficient information to verify your identity and provide sufficient information to locate the data that about which you are exercising your right.
