Climate Firm That Partnered With Meta, Microsoft Goes Bankrupt

Climate startup Aspiration Partners Inc., which boasted a roster of celebrity backers and arranged carbon credits for Meta Platforms Inc., Microsoft Corp. and other large companies, filed bankruptcy weeks after its co-founder was arrested on fraud charges.

CTN Holdings, as the company is now known, has about $170 million in debt. The goal of the bankruptcy is to sell its assets as quickly as possible in order to repay creditors, chief restructuring officer Miles Staglik said in a court filing. The pool of potential bidders is small and the nature of the CTN’s ventures will likely require more ...