WeWork Creditors Demand Company Negotiate with Potential Buyers [BNN Bloomberg (Canada)]
SOFTBANK GRP UNSP/ADR (SFTBY)
NASDAQ:AMEX Investor Relations:
softbank.jp/en/corp/irinfo/presentations
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Source: BNN Bloomberg
as given a 30-day deadline to come up with a plan to exit bankruptcy, a panel of lower-ranking creditors said in a court filing. Squabbling among company managers, senior lenders and longtime backer SoftBank Group Corp. has stalled the revitalization of WeWork and its various units, lawyers for an official committee of unsecured creditors told the judge overseeing the company's Chapter 11 bankruptcy. WeWork's reorganization has “stagnated while their liquidity continues to shrink,” because the company has missed nearly all the deadlines laid out in a tentative restructuring deal with lenders and SoftBank, they said in the filing. “Worse and at the same time, the debtors continue to ignore potential alternative solutions,” including offers that could help repay creditors and preserve the business, the committee wrote. “We remain intensely focused on finishing this important work and are on track to emerge from Chapter 11 next month as a financially strong and sustainable compan
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