Opus delivers views on the Cambridge Analytica Bankruptcy for the BBC
Cambridge Analytica: Will data scandal firm return from the dead?
Our Senior Advisor, Nick Hood speaks to the BBC’s Technology Desk Editor, Leo Kelion. The article discusses the Cambridge Analytica scandal and the UK’s bankruptcy laws.
Even if Emerdata and Firecrest are intended to carry out similar work to Cambridge Analytica, UK insolvency law prevents them simply walking away with its data.
“All the assets are now under the control of the administrator, so the directors no longer have any powers to do anything,” said Nick Hood, a consultant to the insolvency specialist Opus Restructuring.
“In a high-profile case like this, the administrator would look at the intellectual property of the firm, consider how best to market it and might well talk to the people who used to run Cambridge Analytica to see if they are prepared to pay a reasonable market price for those assets.”
“But no insolvency practitioner would simply allow the assets to be taken, as he would be for the high jump.”
Mr Hood added that any sale would leave a paper trail stating who the new owner or owners were.
“It’s a very transparent process,” he said.
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