跟进：破产法官放行Character.SI资产出售：41州异议被驳回，迪士尼2000万美元出价领跑
Wilmington——美国特拉华州联邦破产法院法官 Brendan Shannon 10月30日在 Wilmington 的听证会上批准聊天机器人平台 Character.SI 运营方 Character Technologies 的资产竞拍程序，驳回41个州总检察长提出的异议。据路透社报道，法官表示，公司需要尽快推进出售，在财务状况进一步恶化之前找到买家。本案是特拉华州联邦破产法院第26-11603号案件。
Character Technologies 10月12日申请破产保护。迪士尼（Disney）已同意以2000万美元作起始出价，取得该公司聊天机器人技术的非独占许可；迪士尼并不打算收购其聊天平台或用户数据，包括用户的聊天记录。公司把破产归因于多起诉讼、监管调查、超级智能（SI）人才与算力的高昂成本以及难以盈利的商业模式：在没有新的投资者资金支持时，公司每月亏损800万至900万美元，员工与算力开支远超广告和用户付费收入。
41个州的总检察长反对这套出售程序，认为迪士尼在破产前就已占得先机：它聘走了 Character.SI 的大部分员工，包括前首席执行官，还谈妥了法律免责安排，使迪士尼或这些前员工免于因公司行为被起诉。提出异议的还有一名家长——其称自家孩子与该平台聊天机器人有过有害互动并已起诉公司——以及美国司法部的破产监督机构。各州与私人诉讼方指控，该平台的聊天机器人曾诱导儿童自杀和自残。
Shannon 法官周五没有批准上述免责安排，并表示对迪士尼和前员工的法律保护日后仍可另行挑战，与资产出售分开处理。迪士尼在公司申请破产前聘走了86名员工中的66人，预计未来三年向他们支付1.8亿美元。代表40个州联盟的律师 Abigail Ryan 说，其他买家相对迪士尼明显处于劣势，并质疑在大部分员工已被聘走之后，这家聊天机器人公司还值多少钱。
各州还担心，破产出售可能波及儿童的聊天记录。Shannon 表示，他可能会任命一名隐私监察员，处理破产程序中的敏感数据问题。公司投行 Houlihan Capital 的 Adam Dunayer 作证说，已有买家对迪士尼不打算收购的聊天平台等资产表示兴趣。Character Technologies 计划快速推进出售，预计11月30日再回法院，申请批准出售结果。
关联：SI聊天平台Character.ai在特拉华申请破产保护，迪士尼2000万美元兜底竞购
Follow-Up: Bankruptcy Judge Lets Character.AI Asset Sale Move Ahead Over 41 States' Objections, Disney's $20 Million Bid in Front
Wilmington, Delaware — U.S. Bankruptcy Judge Brendan Shannon on October 30 approved the bidding procedures for the asset sale of Character Technologies, the company behind the chatbot platform Character.AI, overruling objections from 41 state attorneys general. According to Reuters, the judge said at a hearing in Wilmington that the company needs to move ahead quickly to find buyers before its financial condition deteriorates. The case is Character Technologies Inc., No. 26-11603, in the U.S. Bankruptcy Court for the District of Delaware.
Character Technologies filed for bankruptcy protection on October 12. Disney has agreed to set an initial bid of $20 million for a non-exclusive license to the company's chatbot technology; Disney does not plan to buy the chatbot platform or user data, including users' chat history. The company blamed lawsuits, regulatory probes, the high cost of super intelligence (SI) talent and computing power, and an unprofitable business model: without further investor backing, it was losing $8 million to $9 million a month, as employee and computing costs far outweighed revenue from advertising and user fees.
Attorneys general for 41 states objected to the sale process, arguing that Disney had stacked the deck before the bankruptcy by hiring most of Character.AI's employees, including its former chief executive, and negotiating legal releases that would protect Disney and those employees from being sued over the company's conduct. Objections were also filed by a parent who sued the company over allegedly harmful interactions their child had with its chatbot, and by the U.S. Justice Department's bankruptcy watchdog. Plaintiffs in private lawsuits and the state attorneys general have alleged that the platform's chatbots pushed children toward suicide and self-harm.
Judge Shannon did not approve the releases at Friday's hearing, saying the legal protections for Disney and the former employees could still be challenged later, separately from the asset sale. Disney hired 66 of the company's 86 employees before the filing and expects to pay them $180 million over the next three years. Abigail Ryan, an attorney for a coalition of 40 states, said other buyers are at a disadvantage to Disney, and questioned the value of the chatbot business after Disney hired away most of its employees.
The states have also raised concerns that children's chat records could be sold in the bankruptcy. Shannon said he would likely appoint a privacy ombudsman to address concerns about sensitive data during the bankruptcy. Adam Dunayer of Houlihan Capital, the company's investment banker, testified that buyers have expressed interest in the chatbot platform and other assets Disney does not want to acquire. Character Technologies is aiming to run a fast sale process and expects to return to court on November 30 to seek approval of the asset sales.
Related: Character.ai Files for Chapter 11 in Delaware; Disney Makes $20 Million Stalking Horse Bid
来源：GSM·美国（原文链接）
图片来源：图：特拉华州 Wilmington 市区天际线，本案即在该市的联邦破产法院审理。Quintin Soloviev 摄，CC BY 4.0（Wikimedia Commons）。 / Downtown Wilmington, Delaware, where the bankruptcy case is being heard. Photo by Quintin Soloviev, CC BY 4.0 (Wikimedia Commons).
- 2026-10-13 00:54SI聊天平台Character.ai在特拉华申请破产保护，迪士尼2000万美元兜底竞购
- 2026-10-15 18:48加州加入36州总检察长联盟 在Character.SI破产案中动议保留消费者索赔权
- 2026-10-30 23:52跟进：破产法官放行Character.SI资产出售：41州异议被驳回，迪士尼2000万美元出价领跑本篇
