A recent bankruptcy court decision highlights the importance of Facebook pages, Twitter accounts, and similar social media assets in today’s business marketplace. It’s not always clear how these might be best protected, but the decision provides some context for considering the very real problems business owners and their lenders face today.

BACKGROUND -

Tactical Firearms, LLC, sought Chapter 11 protection against a backdrop of shareholder discord and threats of foreclosure from its major secured creditor. The minority shareholder successfully terminated the debtor’s exclusive period for filing a chapter 11 plan and then proposed his own plan. After his plan was confirmed and became effective, he became the sole owner of the reorganized debtor.