Bankruptcy & Restructuring News & Analysis

23andMe has filed a statement with the bankruptcy court affirming its commitment to protect customer genetic data throughout its Chapter 11 proceedings. The company addressed technical issues preventing account deletions and assured customers that any future sale would require the buyer to maintain existing privacy policies

A federal bankruptcy judge prioritized patient safety and community healthcare access in denying two banks' requests to stay portions of a hospital financing order. The ruling in the Jackson Hospital bankruptcy case preserves controversial provisions that reserve funds for critical operations ahead of secured lenders' claims

A federal bankruptcy judge has ruled that two sexual abuse cases against the Roman Catholic Archbishop of San Francisco can proceed to trial despite the archdiocese's Chapter 11 bankruptcy protection, though the relief from automatic stay will be delayed until June 30, 2025. Judge Dennis Montali emphasized that the plaintiffs are "aging survivors of clergy abuse, not data points" and determined that allowing the trials could help facilitate a global settlement of hundreds of similar claims

Carbon credit company CTN Holdings and its affiliates have requested court approval for a $20 million stalking horse bid from Inherent Aspiration, establishing auction procedures for the sale of substantially all their assets in Delaware bankruptcy court. The proposed timeline aims for a mid-May auction with tight milestones required by DIP financing, including bid protections of a $600,000 break-up fee and up to $400,000 in expense reimbursement for the stalking horse bidder