23andMe Seeks Ruling on Trust Terms in Wind-Down Plan Dispute

23andMe asked a bankruptcy court to resolve a dispute between two committees over the final fee terms of an administration trust agreement, which could delay the implementation of its wind-down plan.

The company, the plan administrator, and committees separately representing unsecured creditors and equity holders agreed on most terms following negotiations, but the committees remain split on professional-fee budgets and who should handle claim reconciliations, according to a Nov. 28 notice filed in the US Bankruptcy Court for the Eastern District of Missouri.

The bankrupt DNA-testing firm filed two competing drafts of the trust arrangement and urged the court to ...