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Express News | On May 30, 2019, the bankruptcy court issued an order confirming the third amended joint Chapter 11 reorganization plan of Wework Inc. and its debtor units.
Express News | Wework Inc - on May 30, Bankruptcy Court Entered an Order Confirming Third Amended Joint Chapter 11 Plan of Reorganization of Co and Its Debtor Units
WeWork's debt restructuring plan was approved by a US judge to cut $4 billion in debt
Glonghui, May 31 | Shared office operator WeWork's debt restructuring plan was approved by a US judge. In order to get rid of Chapter 11 bankruptcy protection barriers, the group also cut the amount of debt by 4 billion US dollars. After completing the debt restructuring, WeWork's lease commitments will be reduced by $8 billion, and the number of management offices will be reduced from 450 to 160; the company's shares will be owned by a group of creditors and real estate technology company Yardi Systems.
WeWork Restructuring Deal Approved by Court; Sees Emerging From Chapter 11 in Mid-June
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Downsized WeWork Will Leave Bankruptcy in Search of Its First Profit The flex-office provider projects to turn a profit in 2025 under its new owner, software firm Yardi Systems. Maker of Luxury 'Liv
WeWork's Debt-Free Future: Court Approves Chapter 11 Plan