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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 226
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SoftBank Faces Legal Heat as WeWork’s Creditors Seek Recovery Amid Bankruptcy Fears

Allwork

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 220
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WeWork Noteholders Furious Over Lack Of Bankruptcy Progress

Allwork

Amid these complex legal and financial challenges, WeWork’s founder and former CEO Adam Neumann has also very publicly shown interest in the company. The creditors criticize the company’s lack of engagement with potential financing sources and purchasers.

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What Can Young Lawyers Teach Us About The Future Of Workspaces?

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Younger lawyers prioritize a legal workplace that supports flexibility, equality, and collaboration, favoring environments with open spaces and modern aesthetics over traditional “men’s club” interiors; these preferences are reshaping law firm office design. Here’s what they would love to see! According to Francis J.

Legal 299
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EU Considering Landmark AI Law To Protect Workers, Copyrights

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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 237
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Freelancers Under Fire: Legislation Threatens Gig Economy Workers

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These companies mounted a bold and noteworthy move through legal channels within California’s court system. Despite fierce legal challenges, the verdict in California still stands, reaffirming the importance of the gig economy in today’s post pandemic workforce.

2020 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.