Solar Biotech, Inc. and its wholly owned subsidiary Noblegen, Inc. are in the post-effective-date phase of a confirmed Chapter 11 liquidation, with Arian Eghbali serving as Liquidating Trustee of the Solar Creditors Liquidation Trust and the docket now focused on claims reconciliation rather than ongoing operations.
The Debtors filed voluntary Chapter 11 petitions in the District of Delaware on June 23, 2024 (Chapter 11 PetitionDkt. 1). Solar Biotech, a Norton, Virginia-based synthetic biology and biomanufacturing company that had generated over $14 million in revenue and raised $15 million in investment, was pushed into court by the loss of a single customer that had driven roughly 80% of monthly revenue (~$400,000) and by a seed round it could not close amid constrained venture capital markets since 2022 (Declaration of Alex BerlinDkt. 3). The prepetition capital structure totaled about $11 million in secured debt, with majority investor Ingredion, Inc. holding a $9 million secured convertible note and a $400,000 bridge loan, and Powell Valley National Bank holding a $1.6 million first-lien mortgage on the Norton real property (Amended DeclarationDkt. 332).
Ingredion anchored the restructuring as DIP lender and stalking horse bidder. The court approved combined DIP financing and cash-collateral authority—$3.6 million of new money paired with a comparable roll-up—through a final order in July 2024, and the Debtors completed a Section 363 sale of the operating assets to Pictor Biotech in September 2024. The case then pivoted to a liquidating plan: the First Amended Combined Disclosure Statement and Chapter 11 Plan of Liquidation was confirmed on September 10, 2025, with an effective date of September 30, 2025.
Since effectiveness, the Trust has been monetizing residual assets and administering the estate. The post-confirmation report for the quarter ending March 31, 2026 reflects $555,178 in quarterly cash disbursements and $931,838 cumulative since the effective date, the bulk flowing to retained professionals ($603,301 cumulative), while distributions to the administrative, secured, priority, and general unsecured claim classes remain at $0 (Post-Confirmation ReportDkt. 602). The Trustee is reconciling 248 filed claims, and on June 17, 2026 the court granted his second motion to extend the claims objection deadline to July 28, 2026 (Second Motion Extending Claims Objection DeadlineDkt. 604; Order Granting ExtensionDkt. 606). The Liquidating Trustee anticipates filing for a final decree by December 31, 2026.