Patrick Elliot

Patrick heads up Cubism's Corporate Recovery and Insolvency group. He has over 10 years' experience of working in CRI and almost 20 years' experience as a litigator advising on commercial, financial, intellectual property and data privacy matters. His work encompasses formal processes - administrations, liquidations, voluntary arrangements - and their interaction with Chapter 11 and international legislation; litigation arising from insolvency ' undoing antecedent transactions, tracing assets and enforcement; and advising insolvent businesses, their boards and individuals. Patrick has regularly acted for the creditors of failed institutional, financial and professional services businesses and his work has included numerous cross-border matters. He has significant experience of advising on EU and International insolvency legislation and has successfully taken a leading case on international enforcement to the Supreme Court. Selected key work has included advising multiple creditors of Lehman; Eurofinance in Rubin v Eurofinance before the High Court, Court of Appeal and Supreme Court; retail bondholders of the Cooperative Bank; TPG Private Equity in relation to the administration of the Republic retail chain; the unsecured creditors' committee/the liquidating trustee of Dewey & LeBoeuf LLP; landlords in relation to attempted guarantee-stripping in the Powerhouse CVA; the BVI liquidator of the Fairfield Century feeder fund, in relation to Madoff; and the Irish Examiner of Irish Medical Systems (Computers) Limited on its application to the English High Court for assistance. Patrick trained at Simmons & Simmons; practised at BLP and Addleshaws, was a partner at Brown Rudnick and managed Dragon Advisory prior to Cubism.

Panel

  • Contributing Author

Qualified Year

  • 1997

Membership

  • Sub Comm Head of Insolvency Section of IBA
  • Co. Chair Financial institutions

Education

  • College of Law (Dip Law & Dip Legal Practice)
  • Edinburgh University (MA History with Honours)

2 Contributions by Patrick Elliot

Practical UK GDPR compliance for insolvency office-holders and their legal advisers: lawful bases, controller/processor roles, records, security, data subject rights, special category data, EU transfers and enforcement
PRACTICE NOTES
Practical UK GDPR compliance for insolvency office-holders and their legal advisers: lawful bases, controller/processor roles, records, security, data subject rights, special category data, EU transfers and enforcement
What is the UK GDPR? The Assimilated Regulation (EU) 2016/679, known as the UK GDPR, governs the handling of personal data, aiming both to safeguard individuals and to enable the unhindered flow of such information. Insolvency professionals handle personal data in their roles as partners, employees or consultants within their organisations, and also when acting as appointed office-holders. In each of these roles, they must comply with the UK GDPR. Accordingly, the regulation applies to them in both professional and office-holder capacities alike. This note offers a concise outline of the UK GDPR’s obligations, together with practical points for those working in insolvency. The professionals concerned include insolvency practitioners, legal advisers and other professional advisers (e.g. financial advisers). After IP completion day (at 1 pm (GMT) on 31 December 2020), the General Data Protection Regulation, Regulation (EU) 2016/679 (the EU GDPR), was carried over into domestic UK law as the “UK GDPR”. The UK GDPR is largely based on the EU GDPR and, in general, the terminology and core principles in the UK GDPR mirror those in the EU GDPR, though there are several important, detailed differences between the two frameworks...
Restructuring & Insolvency
UK GDPR and Data Protection Act 2018 for insolvency practitioners: practical compliance checklist for office-holders and advisers
CHECKLISTS
UK GDPR and Data Protection Act 2018 for insolvency practitioners: practical compliance checklist for office-holders and advisers
The general (that is, not linked to specialist fields such as law enforcement) data protection laws in the UK consist of: Assimilated Regulation (EU) 2016/679 — the UK General Data Protection Regulation (UK GDPR), a version of Regulation (EU) 2016/679 (EU GDPR) incorporated into UK law following Brexit; the relevant provisions of the Data Protection Act 2018 covering general personal data processing, the powers of the Information Commissioner, and sanctions and enforcement. For further detail, see Practice Note: The UK General Data Protection Regulation (UK GDPR). UK GDPR The UK GDPR sets requirements for anyone who processes personal data—covering both data controllers and data processors. An Insolvency Practitioner (IP) may act in either or both capacities. Their duties stem both from their formal appointments and from any position they hold within an organisation. In the former context, they will handle data controlled by the insolvent individual or entity, as well as information they obtain during the course of the appointment. For more on how the UK GDPR applies to insolvency professionals, see Practice Note: Practical aspects of the UK General Data Protection Regulation for insolvency professionals...
Restructuring & Insolvency
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