Business today revolves around data – and data is required as evidentiary support in litigation
DATA is critical! LET us help you prepare so you can WIN!!
A medium sized multi-national cosmetics company filed Chapter 11 bankruptcy…
When this client tried to collect from a national seller (a well-known drug store chain) who owed them 22 million dollars the judge required hard evidence in the form of invoices. All client data was in the cloud on Software as a Service (SaaS) solutions and had not been backed up locally. Because the invoice data had been tied to the SaaS system which was turned off because of nonpayment (the data was purged) the client was unable to supply hard evidence to the judge and the judge ruled for the defendant.
The client nor their attorneys recouped any money that was rightfully theirs!
Chapter 11 can be a dark and murky process to undertake
Most companies and attorneys are focused on issues related to proceedings and overlook IT services, risk assessments required, and protecting/accessing data when creating a restructuring plan.
Why is IT planning and execution important?
For successful LITIGATION and NEGOTIATION!!
Companies routinely use SaaS (software as a service) and cloud based solutions as part of their daily routines. They provide a useful, cost-effective strategy for company revenues, BUT often do not have local physical backups bundled within them. This puts long term data preservation at risk.
We partner with attorneys and clients early in the bankruptcy planning process to ensure our #1 Goal - To Preserve Data Throughout the Litigation Process.