A Southern District of Texas bankruptcy court ruled that business social media accounts are property that has value and belongs to the subject business. Therefore, the accounts are part of the businesses’ bankruptcy estate and must be surrendered by the businesses’ former owner. The case is In re: CTLI LLC, No. 14-33564 (Bankr. S.D. Tx. Apr. 3, 2015).
Here is a more extensive article about the case but it is behind the Law360 paywall: Social Media Can Be Part Of Ch. 11 Estate, Judge Rules – Law360.
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Published by Shawn E. Tuma
Shawn Tuma is an attorney who is internationally recognized in cybersecurity, computer fraud and data privacy law, areas in which he has practiced for nearly two decades. He is a Partner at Spencer Fane, LLP where he regularly serves as outside cybersecurity and privacy counsel to a wide range of companies from small to midsized businesses to Fortune 100 enterprises. You can reach Shawn by telephone at 972.324.0317 or email him at stuma@spencerfane.com.
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