The founder of office provider IWG, Mark Dixon, faces a legal challenge as landlords battle his decision to put the Jersey-based subsidiary which guaranteed their rents into bankruptcy.
IWG angered landlords with the move in October, which came after it drew a 644m dividend from the Regus plc subsidiary last year.
The decision effectively left over 600 landlords with leases guaranteed by Regus plc with no recourse, as parent IWG pushes for rent cuts in the wake of the Covid-19 crisis.
Carey Olsen, a Jersey law firm, is leading the action and expects to act on behalf of around 15 landlords from the UK, US, Japan and the Netherlands to challenge the Royal Court of Jerseys decision to pass the handling of the bankruptcy to Luxembourg, due …
Read the full article at: https://www.telegraph.co.uk/business/2020/12/12/landlords-legal-battle-iwg-regus-bankruptcy/