Redwood Liquidating Co., Post-Effective Date Debtor

  1. November 26, 2024

    Paul Hastings Seeks GenapSys CEO Depo In Malpractice Suit

    Paul Hastings LLP has called on a California court to compel the founder and former CEO of GenapSys to sit for a deposition in a legal malpractice suit alleging that the firm improperly drafted board documents that invited an expensive lawsuit and led to the genetic sequencing company's "demise and liquidation."

  2. July 03, 2023

    Paul Hastings Accused Of Causing 'Demise' Of GenapSys

    While working as outside counsel to GenapSys, Paul Hastings LLP improperly drafted board documents that invited an expensive lawsuit and led to the genetic sequencing company's "demise and liquidation," according to a lawsuit filed Friday in California state court.

  3. January 05, 2023

    GenapSys Ch. 11 Plan Confirmed After $42M Asset Sale

    Genetic sequencing company GenapSys Inc. received bankruptcy court approval Thursday in Delaware for a Chapter 11 plan of liquidation that will provide recoveries to general unsecured creditors after selling its assets last fall.

  4. September 08, 2022

    GenapSys Gets Court OK For $42M Sale To Investor Group

    Gene-sequencing company GenapSys Inc. won a bankruptcy court's approval Thursday to sell its assets to an investor group for $42 million despite a last-minute plea from Bolt Financial Inc.'s CEO Ryan Breslow to postpone the sale so his new pharma startup could put in a competing bid.

  5. August 22, 2022

    Judge Rejects Bid Protections For GenapSys Stalking Horse

    A Delaware bankruptcy judge on Monday said he is unconvinced that an entity affiliated with GenapSys Inc. investors needs $1.3 million in bid protections to make a $42 million bid for the gene-sequencing company in its Chapter 11 case.

  6. August 19, 2022

    Judge Denies Ch. 11 Dismissal Try By GenapSys Founders

    A Delaware bankruptcy judge has entered an order denying a request by the founders of GenapSys Inc. to dismiss its Chapter 11 case, freeing up the gene-sequencing company to move forward with its sale plans.

  7. August 05, 2022

    Scouts' Plan Mostly Approved, Jones Hit With $50M Verdicts

    The Boy Scouts of America got a court's nod for the linchpin of its $2.7 billion Chapter 11 plan, the defamation damages trial of conspiracy theorist Alex Jones and his bankrupt media enterprise resulted in nearly $50 million in damages, and customers of cryptocurrency platform Voyager Digital can withdraw their cash from custodial accounts. This is the week in bankruptcy.

  8. August 04, 2022

    GenapSys Founders Win Delay On Bankruptcy Sale, Loan

    GenapSys Inc. may not finalize a sale process or bankruptcy financing until its founders have a chance to argue why the gene sequencing company's Chapter 11 case should be dismissed, a Delaware bankruptcy judge said Thursday.

  9. July 13, 2022

    GenapSys Cleared For Ch. 11 Loan With Sale Milestones

    Bankrupt DNA sequencing technology company GenapSys Inc. received permission on Wednesday from a Delaware court to access $1 million in debtor-in-possession financing that comes with a set of deadlines for approval of a Chapter 11 asset sale.

  10. July 12, 2022

    Ch. 11 Cheat Sheet: GenapSys

    DNA sequencing technology developer GenapSys filed for Chapter 11 protection July 11 in the midst of costly litigation with the company's founder and former CEO and the associated operational and reputational challenges.