  Supersymmetric models with bilinear R-parity violation (BRpV) provide a
framework for neutrino masses and mixing angles to explain neutrino oscillation
data. We consider CP violation within the new physical phases in BRpV and
discuss their effect on the generation of neutrino masses and the decays of the
lightest supersymmetric particle (LSP), being a light neutralino with mass
$\sim 100$ GeV, at next-to-leading order. The decays affect the lepton and via
sphaleron transitions the baryon asymmetry in the early universe. For a rather
light LSP, asymmetries generated before the electroweak phase transition via
e.g. the Affleck-Dine mechanism are reduced up to two orders of magnitude, but
are still present. On the other hand, the decays of a light LSP themselves can
account for the generation of a lepton and baryon asymmetry, the latter in
accordance to the observation in our universe, since the smallness of the BRpV
parameters allows for an out-of-equilibrium decay and sufficiently large CP
violation is possible consistent with experimental bounds from the
non-observation of electric dipole-moments.
