Character Technologies Updates Chapter 11 Sale Process

Character Technologies, Inc., the operator of Character.ai, has provided an update on its ongoing Chapter 11 bankruptcy proceedings. On November 4, 2026, the U.S. Bankruptcy Court for the District of Delaware approved bidding procedures for the company’s asset-sale process. The court’s order, identified as Docket No. 106, also approved a transaction notice containing key details about the sale process. The approved bidding procedures establish a framework for the sale, licensing, or disposal of substantially all of Character Technologies’ assets under section 363 of the U.S. Bankruptcy Code. The company has designated Disney Worldwide Services, Inc.

Source: Blockchain.News