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

Allwork

Big markets for coworking spaces are becoming increasingly competitive for workspace providers — with WeWork’s recent financial challenges creating opportunities for rivals to expand their presence. According to a report published by CoStar , WeWork recently filed court documents revealing a substantial loss of $153.7

Legal 259
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WeWork Noteholders Furious Over Lack Of Bankruptcy Progress

Allwork

The unsecured creditors’ committee has also opposed the conditional approval of the disclosure statement and WeWork’s request for an extension of its exclusivity periods. The creditors criticize the company’s lack of engagement with potential financing sources and purchasers.