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

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. As the company continues to navigate through its financial woes, the outcome of this legal challenge could significantly influence its ability to recover.

Legal 257
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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 253
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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.

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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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Freelancers Under Fire: Legislation Threatens Gig Economy Workers

Allwork

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

Allwork

A report from the Williams Institute at the UCLA’s School of Law found that 1 in 10 LGBTQ+ professionals faced discrimination at work based on their sexuality or gender. . A report from Edelman shows that 46% of 2,000 respondents do not believe that their employer has done enough to address system racism.? .

Budget 259
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New objectives in workplace design guide set out to increase biodiversity in government estate

Workplace Insight

The Annex outlines the key actions the GPA will take to maintain compliance with legal requirements, including adherence to the new Biodiversity Net Gain (BNG) mandated planning requirements.