Selling company data in receivership
A receiver is a neutral person a court appoints to take control of a company’s property, usually at a lender’s or an investor’s request. Email archives, ticket history, CRM records and code are property like any other, and a receiver can license them to AI companies to raise money for the people the receivership protects. The receiver’s authority comes from the appointing order, so that order is the first thing to read.
Where the receiver’s power comes from
In federal court, receivers are appointed under Rule 66 of the Federal Rules of Civil Procedure, and a receiver of property in several districts is vested with it under 28 U.S.C. 754. Sales of personal property ordered by a federal court follow 28 U.S.C. 2004 unless the court orders otherwise. State courts appoint receivers under state statutes, and the rules differ from state to state.
In every case the appointing order is the map. It says what the receiver controls, whether the receiver may run the business or only hold and sell, and which sales need the court’s approval first.
What to check in the order
| Question | Why it matters for a data license |
|---|---|
| Does it cover all assets, or named ones? | A receivership over one building or one bank account may not reach the email server or the software accounts. |
| May the receiver sell without a new order? | Many orders allow sales in the ordinary course only. Licensing records is rarely ordinary, so expect a motion. |
| Who must get notice? | Lenders and other parties may be entitled to object, which sets the timing. |
| Is the business still running? | An operating company keeps adding records, and its systems stay paid. A shut one needs an export soon. |
Privacy outside bankruptcy
A receivership has no built-in consumer privacy ombudsman, the way a bankruptcy does. The privacy promises the company made still matter: its privacy policy, its customer contracts and the state privacy laws that apply to the people in its records. A buyer will ask how each was handled.
The practical answer is the same as anywhere else. Names, contact details and account numbers are replaced or removed before any sample is shared, the method is written into the license, and the receiver’s counsel confirms it fits the order and the law.
Keeping the records alive
Receivers often take over a company whose software bills have already stopped. Ask each vendor, in writing, how long a lapsed account is kept and whether it can be restored for an export. Keep one admin login for each system, and record the company’s peak headcount and the years each system covers. Those three facts decide whether the records are worth offering at all.
Read next
- Closing or bankrupt companies. Who signs in each kind of closing.
- What company data is worth. Ranges by data type and company size.
- De-identification. How names and personal details come out first.
Questions about selling company data in receivership
Is a receivership the same as bankruptcy?
No. A receiver is appointed by a court in an ordinary lawsuit or under a state statute, without a bankruptcy filing, and the appointing order sets the powers.
Who signs the license in a receivership?
The receiver, within the authority of the order, and often after the court approves the specific sale.
Where does the money go?
Into the receivership estate, to be paid out as the court directs.
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