- WeWork founder Adam Neumann has asked a U.S. bankruptcy judge to help his bid to re-acquire the coworking business, saying Monday that WeWork's management should engage in talks or be forced to cede control of the company's restructuring.
WeWork entered bankruptcy in November 2023 with a restructuring support agreement with its equity backer Softbank and its lenders, who agreed to wipe out $3 billion in debt in exchange for an equity stake in the business. Neumann and Flow did not immediately respond to a request for comment about how their proposed buyout would gain the support of WeWork's lenders.
The company struggled to achieve profitability as a rise in work-from-home trends following the pandemic soured demand for its shared office spaces.For WeWork: Ciara Foster and Steven Serajeddini of Kirkland & EllisWeWork explores bankruptcy loan options amid landlord disputeAre you looking for a super dividend stock to buy now and generate a whopping passive-income stream? Here's an option that's too good to ignore.
Peter Schiff says get ready for 'major dollar decline' — predicts end of greenback as global reserve currencyThe Canadian dollar strengthened to a 10-day high against its U.S. counterpart on Monday as risk appetite improved and after domestic data showed new home prices stabilizing in March. The loonie was 0.4% higher at 1.3695 to the U.S. dollar, or 73.02 U.S. cents, adding to its winning streak since Wednesday and trading at its strongest level since April 12.