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23andMe Initiates Voluntary Chapter 11 Proceedings
- Client News
- March 23, 2025
Paul, Weiss is advising 23andMe Holding Co., a leading human genetics and biotechnology company, in voluntary chapter 11 proceedings in the U.S. Bankruptcy Court for the Eastern District of Missouri to facilitate the sale of substantially all of its assets. Throughout the post-petition sale process, the company will continue operating normally and will not make any changes to the way it stores, manages or protects customer data.
23andMe has received a commitment for debtor-in-possession financing of up to $35 million from JMB Capital Partners, which, along with cash from the company’s ongoing operations, will support the business during the chapter 11 proceedings. 23andMe also intends to use the proceedings to resolve outstanding legal liabilities from its previously disclosed October 2023 cyber incident.
The Paul, Weiss team includes restructuring partners Christopher Hopkins and Paul Basta; litigation partners John Carlin, Jeannie Rhee and William Clareman and counsel Audrey Paquet, Peter Carey and Robert Kravitz; corporate partners Sung Pak, John Kennedy, Jeffrey Marell, Kristiina Leskinen and David Marshall and counsel Lyudmila Bondarenko; tax partner Robert Holo; and executive compensation partners Lawrence Witdorchic and Reuven Falik.