In this follow-up episode of The Bald Guys of Bankruptcy, Adam Friedman and Rich Postiglione revisit the 23andMe Chapter 11 filing to provide an update on where the bankruptcy stands today.

This discussion examines the sale process, court-approved bidding procedures, and how data privacy concerns continue to influence restructuring outcomes. This episode offers a high-level look at the status of the case and what remains ahead as the plan awaits final say from the court.

#BankruptcyLaw #Chapter11 #23andMe #BusinessBankruptcy #Insolvency #LegalPodcast

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The materials and information on this site are provided by Friedman Vartolo LLP for general informational purposes only. They are intended to familiarize visitors with our firm, attorneys, and services. Under professional rules, all content on this site, including blogs, newsletters, articles, videos, and social-media posts, constitutes attorney advertising. Prior results do not guarantee a similar outcome.

Nothing on this site, or transmitted to or from this site, constitutes legal advice nor does it create any form of attorney-client privilege. Laws are complex and fact-specific; visitors should not act, or refrain from acting, without seeking advice from a qualified attorney licensed in their jurisdiction.

Use of this site, including forms, emails, or chat features, does not create an attorney–client relationship. Such a relationship arises only upon our explicit agreement and execution of a written engagement letter. Please do not send us any confidential information until that point.

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Oheka Castle, the Gold Coast mansion once famed for hosting lavish weddings and even serving as inspiration for The Great Gatsby, is now the focus of a bankruptcy proceeding in the Eastern District of New York. On this week’s Bald Guys of Bankruptcy, we cover: - A quick lesson in what a single asset real estate case looks like; - An overview of the complex debt history of the property leading up to the bankruptcy filing; - A discussion of the debtor's position for the bankruptcy; - A general update on where the case is now plus some insight on the recent court procedures in connection with the case; and - Speculation on the possible future direction of the case. 🔍 What do you think about this development? Let us know your thoughts in the comments below and be sure to follow Friedman Vartolo LLP for more insights on bankruptcy, restructuring, and real estate law.Timestamps:00:00 – Intro: Welcome Back to The Bald Guys of Bankruptcy00:20 – What Led to Oheka Castle’s Bankruptcy?01:19 – Who Owns Oheka Castle?01:25 – Is This a Single-Asset Real Estate Bankruptcy?01:53 – A Castle in Trouble? Mismanagement or Market Forces02:55 – Why Did the Debtor Want a 2004 Examination?04:11 – Did This Deal Force Them Into Bankruptcy?05:26 – Why Is the Subpoena Relevant in Bankruptcy Court?05:55 – Could the Secured Creditor Be Subpoenaed Next?06:32 – What’s Happening in the Bankruptcy Now?07:30 – Is the Case on Pause While Waiting for Hearings?08:27 – What Happens if They Don’t File a Plan in Time?08:47 – Was This Bankruptcy Filed Just to Issue a Subpoena?09:01 – Is This a Real Bankruptcy or Just a Delay Tactic?09:34 – Can Their Plan to Build Condos Really Work?09:57 – What’s Next for Oheka Castle’s Bankruptcy?10:16 – Closing Thoughts

Disclaimer:

The materials and information on this site are provided by Friedman Vartolo LLP for general informational purposes only. They are intended to familiarize visitors with our firm, attorneys, and services. Under professional rules, all content on this site, including blogs, newsletters, articles, videos, and social-media posts, constitutes attorney advertising. Prior results do not guarantee a similar outcome.

Nothing on this site, or transmitted to or from this site, constitutes legal advice nor does it create any form of attorney-client privilege. Laws are complex and fact-specific; visitors should not act, or refrain from acting, without seeking advice from a qualified attorney licensed in their jurisdiction.

Use of this site, including forms, emails, or chat features, does not create an attorney–client relationship. Such a relationship arises only upon our explicit agreement and execution of a written engagement letter. Please do not send us any confidential information until that point.

By accessing this site, you acknowledge these terms. For questions, please contact us to determine whether we can assist you.

What happens when the U.S. importer of Stoli vodka files for bankruptcy, but the global parent company stays standing?In this episode of The Bald Guys of Bankruptcy, attorneys Adam Friedman and Rich Postiglione break down:✅ Why Stoli USA collapsed while Stoli International continues operating✅ How changing tastes—like the rise of ready-made drinks—hurt demand✅ The impact of legal battles in Russia, including the seizure of facilities and loss of trademarks✅ A ransomware attack that deepened the crisis✅ Why a major creditor wants a trustee appointed to take over the businessFrom vodka sales to cybersecurity breaches, this is one of the most unique bankruptcy cases we’ve covered.💬 What do you think—can Stoli USA survive? Drop a comment below!Subscribe for more industry insights: youtube.com/@thedefaultindustry#Bankruptcy #StoliUSA #VodkaBusiness #Cybersecurity #BusinessFailure #LegalTalk #TheBaldGuysOfBankruptcy