8 Del. C. § 281(b): plan of distribution of a dissolved Delaware corporation (8 Del. C. § 281(b))
A dissolving Delaware company that sells its customer data to pay claims does so as an ordinary sale under its own privacy policy and the law; there is no bankruptcy court approval and no consumer privacy ombudsman.
Dated 17 Oct 2026Source checked 17 Oct 2026Basis: primary text
In the source's own words
“A dissolved corporation or successor entity which has not followed the procedures described in § 280 of this title shall, prior to the expiration of the period described in § 278 of this title, adopt a plan of distribution pursuant to which the dissolved corporation or successor entity (i) shall pay or make reasonable provision to pay all claims and obligations, including all contingent, conditional or unmatured contractual claims known to the corporation or such successor entity, ... Any remaining assets shall be distributed to the stockholders of the dissolved corporation.”
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