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WeWork’s Bankruptcy Battle Takes New Turn with Legal Action Against SoftBank

Allwork

According to a report published by The Wall Street Journal , the struggling coworking giant’s junior creditors committee is seeking court approval to sue SoftBank, WeWork’s largest shareholder, amidst allegations of financial maneuvering ahead of WeWork’s bankruptcy filing.

Legal 262
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SoftBank Faces Legal Heat as WeWork’s Creditors Seek Recovery Amid Bankruptcy Fears

Allwork

Some of the tenants include companies like Sony Pictures, Palantir, Boeing, Moderna, Current, Roky — all of which have moved into some of the vacated WeWork locations. The committee accuses SoftBank and a coalition of creditors, who hold 62% of WeWork’s unsecured notes, of orchestrating a debt restructuring in May 2023.

Legal 260
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WeWork Noteholders Furious Over Lack Of Bankruptcy Progress

Allwork

The creditors criticize the company’s lack of engagement with potential financing sources and purchasers.

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EU Considering Landmark AI Law To Protect Workers, Copyrights

Allwork

A committee of lawmakers in the European Parliament recently approved regulation, known as the European AI Act, according to CNBC. If an AI program is categorized under unacceptable risk, it is banned by default. The proposed European legislation ensures that developers of AI systems stay within legal guardrails.

Copyright 246
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Hefty fine for Amazon has implications for employee surveillance policy

Workplace Insight

Weighing up the interests of the employer against the interests of its employees led the regulator to deem that such data processing had no legal basis and was therefore in contravention of GDPR law. A parliamentary select committee heard in 2022 that employees could be fired if that had three productivity flags on the company’s systems.

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How to Name Your Business

Success

which hires out on-call chief marketing officers: What are the attributes and personality of the company? It’s far less expensive to name a company with a descriptive title and tagline,” Isen says. For example, someone thinking about using the word “synergy” to name their health consulting company ought to reconsider.

Legal 264
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How This LGBTQ+ CEO Nurtures Workplace Diversity From The Inside Out

Allwork

The belief that large companies can have a bigger impact on addressing and enacting societal changes has made being mum on certain topics even more controversial. . Now more than ever, the public expects companies to take a stance when it comes to social and political issues.? . Why DEI Is Essential For Business Longevity .

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