When flex space company WeWork filed for bankruptcy, it filed that it had struck an agreement with 92% of its creditors that hold its secured debt.
But there is a lot of big money in unsecured debt owed to landlords. Many of them are trying to push back against the large advantages WeWork has through the bankruptcy laws.
In the WeWork bankruptcy filing, there were at least 475 legal entities listed that were owned by WeWork, the vast majority of which are for tenant relationships to landlords. Among the 30 largest unsecured creditors are those claiming unpaid rent, lease termination fees, and related litigation totaling more than $95,993,378.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
