NEW YORK – WeWork and its major financial backers including SoftBank Group have struck a new restructuring deal to get the ailing workspace provider out of bankruptcy, spurning a competing financing proposal from co-founder Adam Neumann. WeWork has struck an agreement with senior lenders, who have agreed to provide the business with roughly US$450 million…
Tech Adam Neumann got cut out of WeWork’s restructuring plan Geoff Weiss 2024-04-29T23:54:43Z Share icon An curved arrow pointing right. Share Facebook Icon The letter F. Facebook Email icon An envelope. It indicates the ability to send an email. Email Twitter icon A stylized bird with an open mouth, tweeting. Twitter LinkedIn icon LinkedIn Link…
: RusAviaInsider Russias State Transport Leasing Company (GTLK) in its 2023 IFRS report has admitted the loss of 2.49 billion roubles as a result of liquidation of its two Irish subsidiaries last year. In compliance with IFRS 10, as a result of the May 31, 2023 decision taken by the High Court of Ireland ordering…
Multistate cannabis company MedMen leaves the industry by filing bankruptcy proceedings in Canada with about $411 million in liabilities. MedMen announced on April 26 that it filed for bankruptcy under Canadas Bankruptcy and Insolvency Act on April 24. The business advisory firm B. Riley Farber Inc. was appointed as the companys bankruptcy trustee. The company…
Freedom Debt Relief is a national leader in debt relief solutions for consumers. The American Association for Debt Resolution accredits it and says the company will help people with at least $5,000 in debt in most states. According to a representative, around 55% of their clients see debt settlement negotiations in the first 60-90 days.…
Infarm entered Administration back in October 2023, getting into a legal process being managed by licensed insolvency practitioners known as administrators. These lawyers are appointed to protect Infarm’s interests, attempting to help the company survive or create the best outcome if liquidation becomes a feasible option. Yet, what has happened in the past five months?…
Tim Cooper, partner at Addleshaw Goddard LLP, has been appointed president of R3, the insolvency and restructuring trade body. As president, Cooper will work with R3s CEO, senior management team and council to help shape and deliver R3s strategy for the next 12 months and supporting its day-to-day operations. He has set five specific aims…
ByHT News Desk Apr 29, 2024 01:04 PM IST Share Via Copy Link Healthify layoffs: The company said that the restructuring was necessary to achieve profitability in India and ensuring global expansion at the same time. Healthify layoffs: Healthify fired 150 employees as part of a restructuring exercise in the company, it was reported. Tushar…
Adam Kirkbride was sentenced to four years in prison when he appeared at Newcastle Crown Court. Kirkbride, of Keswick, was also further banned as a director until April 2036. The 32-year-old abused his position while acting in the management of a company by siphoning off 60,000 that had been invested by a pensioner into his…