A biotech investment company called Apple Tree Partners (ATP) has filed for bankruptcy to make sure its startup companies keep getting the money they need. This comes after a long disagreement with its main investors, who are linked to a Russian billionaire named Dmitry Rybolovlev. ATP sued these investors, saying they weren’t giving the promised money to the startups. A court recently agreed with ATP and ordered the investors to pay about $97 million. The investors then sued ATP in another country, saying ATP isn’t managing the money well and should be shut down. The legal fight is still ongoing. ATP’s bankruptcy filing is under a part of U.S. law that lets companies reorganize and protect themselves from creditors while they do so. The company says this will help protect the funding and resources needed for research and development of new treatments for serious diseases like cancer and neurological disorders. ATP has been investing in biotech startups for over 25 years and has around 30 companies in its portfolio. Many of these companies are working on advanced drug development, like gene editing and self-replicating RNA. ATP says it has given good returns on investments, but its investment pace has slowed down recently. In court, ATP said that the lack of promised funds from the investors could cause some startups to collapse. The investors, however, say they don’t trust ATP because of how it’s managing the money. They also say ATP is trying to take half of their stake in the fund and want ATP to be wound down in court. A judge recently ruled that the investors must honor the funding they promised to the startups. The judge said it’s important to preserve research that could lead to life-saving treatments. The investors, however, say the bankruptcy filing is just a way for ATP to delay and avoid oversight. ATP’s founder says he believes the investments are strong and the portfolio companies show great promise. The investors have also provided statements in response to the situation.