United States · main focus

Closed and closing companies in United States: who can license the records

Records only become an asset for creditors when someone with authority can license them. Here is how that works in United States, in plain terms.

Who usually decides: Chapter 7 and Chapter 11 trustees, debtors in possession, receivers and assignees for the benefit of creditors.

While the company is in a formal process

In bankruptcy, the trustee (or the debtor in possession) sells estate assets, and sales outside the ordinary course need court approval (11 U.S.C. §363).
In an assignment for the benefit of creditors, the assignee holds the assets under state law.

After dissolution or deregistration

Outside bankruptcy, state law on dissolved corporations decides who can still act for the company and for how long.
If the company went through bankruptcy, check whether the records were sold with the business assets.

Personal data

If the company's privacy policy restricted transfers of personal information, the court may appoint a consumer privacy ombudsman before a sale (11 U.S.C. §§332, 363(b)(1)).
State privacy laws and contracts with customers can still apply to personal data in the records.

Where to check status

Court dockets (PACER) show trustee appointments and sale orders; state registries show dissolution.

micro1 lists United States

Country: United States is one of ten countries on micro1's defunct-company track company.micro1.ai/get-started · 15 Nov 2026
Size: 30+ peak employees company.micro1.ai/get-started · 15 Nov 2026
Language: English company.micro1.ai/get-started · 15 Nov 2026

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General information, not legal advice. Insolvency and privacy rules depend on the facts and the state. Take advice before agreeing anything.