It's not quite clear what happens next. Cummings appears to have personally guaranteed some of the loans or investments made by his business partners, including Peter Larson and Martin Shmagin. Larson could not be immediately located on Monday; Shmagin, who is owed about $180,000, did not respond to a request for comment.
Shoshana Schiff, a partner with the Trenk law firm who is representing the court-appointed bankruptcy trustee, told CNET that: "Any property listed on the debtor's bankruptcy petition is property of the bankruptcy estate and my client intends to administer those assets for the benefit of creditors."
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In a motion filed in bankruptcy court in May, Shmagin and Larson said they may sue XY founder Cummings for fraud if he does not turn over the personal data. "The ownership dispute has not been resolved," they wrote. "Until resolved, the prospect of litigation as to the ownership of the assets remains outstanding."
And a subsequent filing from Shmagin and Larson says that "regardless of the debtor's privacy concerns, altruistic or not, the fact remains that movants have fraud claims" that could yet be the subject of a separate lawsuit.