Venture firm Apple Tree Partners filed for Chapter 11 to implement a restructuring plan intended to ensure continued funding for its biotech portfolio amid a months‑long dispute with primary backers tied to Russian investor affiliates. Delaware Chancery Court ordered Rigmora entities to release about $97 million to ATP, but a parallel Cayman Islands suit seeks liquidation. Apple Tree framed the bankruptcy as a protective measure to preserve investigator‑led programs in oncology, neurology and infectious disease while litigation plays out. The move safeguards runway for roughly 30 startups that rely on the firm’s capital allocations.