The Chen Foundation — owner of a mixed-use Manhattan building — is in hot pursuit of confirmation for its Chapter 11 plan, with backing from its senior lender and most of its unsecured creditors for a proposal that would see the secured lender take a reduced cut and fund payouts to the unsecured class.
Financial distress across the U.S. economy showed signs of easing in the third quarter of 2026, but the improvement was far from uniform. Real estate distress continued to deepen, particularly among smaller property owners, while healthcare distress remained elevated despite a sharp quarterly decline, according to a new report from law firm Polsinelli.
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.