I recently had experience with a company that spun-off from its parent. The
spun-off company pretty much only took their records if they felt they still
needed them to conduct business. Their older files, ones which clearly
belong to the spin-off, but were of no actual value/need were left with the
parent. I should preface that the records in question are stored entirely
offsite. What this means is that the spin-off left the parent to pay for
storage of much of its inactive files. So far, there seems to be no clear
delineation marking precisely which files belong to the spin-off and which
to the parent. I found this out while setting up a records management
program for the parent. The program, which just got off the ground last
month, has a qualified records manager who is not only tasked with resolving
this issue, but must also build the program from scratch.

To answer your question, the company did not identify and take all of its
records. I doubt that the separation agreement explains custody/access of
records, especially since the parent owns a small fraction of the spin-off
and still shares the HR dept.

--Stephen Cohen


On 9/6/06, Williams, Stephanie <[log in to unmask]> wrote:
>
> Does anyone have experience with the handling of archived records when a
> company has spun off?   Did company identify and take all boxes of
> records with them, enter into separation agreement to have access when
> needed?
> Help, please.
>
>
>
> Stephanie Williams ~ Records Management  / Tronox LLC
> [log in to unmask]
>
>
> List archives at http://lists.ufl.edu/archives/recmgmt-l.html
> Contact [log in to unmask] for assistance
>



-- 
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Stephen E. Cohen, MLIS
Records Manager & Analyst
Forrest Solutions, New York NY
[log in to unmask] (work)
[log in to unmask] (professional)
Tel: 203-376-5535
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List archives at http://lists.ufl.edu/archives/recmgmt-l.html
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