When a company is liquidated, its factories, receivables, Intellectual Property, and other assets, all go into a defined pool, called the liquidation estate, for the liquidator to realise and distribute. However, a company’s most valuable holding is neither of these, and increasingly so, as in the modern world, a company’s most valuable resource has become its customer database. In the case of the liquidation of Jet Airways, its 49.9% stake in JetPrivilege Pvt. Ltd., the company operating its frequent-flyer programme and holding data relating to millions of travellers, represented a potentially valuable intangible interest. The liquidator however, could do nothing with the database itself, as ownership was unclear and privacy exposure…
Insolvency Guardian
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