Privacy competes with bankruptcy code Expect more respect for Web site privacy statements.
Beyond highlighting public distrust of Internet transactions, privacy statements often pledge that personal consumer information, including transaction details, will remain private and never shared with third parties. But the Internet is neither doctor nor lawyer, and the law regarding enforcement of such promises is far from settled in the unsettled New Economy. The Internet is going through uncharted waters. A basic tenet of bankruptcy law is to maximize recoveries to creditors. For dot-coms with few assets, customer lists might yield considerable cash.