Artificial intelligence platform Character Technologies Inc. commenced a Chapter 11 case Oct. 12 in Delaware with an offer from Disney to acquire the company's assets, including its Character.AI service, for $20 million, and a team of attorneys from Wilson Sonsini Goodrich & Rosati PC is guiding the debtor through the process.
The proposed buyer of a building in New York City's Flatiron District filed for bankruptcy relief after the sale fell through. Affiliates of Terra Carta Partners joined its Chapter 11 case, after their parent company was placed into bankruptcy involuntarily earlier this year. And a Buffalo, New York, steel company sought bankruptcy relief after 78 years in business.
The U.S. Trustee's Office has told a Texas bankruptcy court it should not add another case to the watchdog's nearly three-year-old fee clawback litigation against Jackson Walker LLP, saying prepetition bankruptcy work by a former partner whose undisclosed romance with a bankruptcy judge kicked off an ethics scandal was "troubling" but distinct from 33 other cases.