Court Approves Character Technologies Sale Rules With $21.7 Million Minimum Competing Bid
Photo: TokenPost
A Delaware bankruptcy court approved bidding procedures for Character Technologies, Inc.’s asset sale on Nov. 4, establishing a $21.7 million minimum competing bid for assets tied to Disney’s proposed license deal. Character Technologies operates Character.ai and is pursuing the process in the U.S. Bankruptcy Court for the District of Delaware under Chapter 11. The procedures cover a potential sale, license or other disposition of all or substantially all of the company’s assets under Section 363 of the U.S. Bankruptcy Code. Disney Worldwide Services, Inc.
Source: TokenPost
