Ensuring Bankruptcy Works for the Future of WeWork

In September 2023, with the daunting post-pandemic implications looming, WeWork’s advisors began engaging with hundreds of landlords to secure amendments or exits to a substantial portion of its real estate leases. This was one facet of an accelerated and comprehensive lease rationalization being executed on a global scale. Cole Schotz, working as co-counsel with Kirkland & Ellis, LLP, commenced chapter 11 cases on November 6, 2023 in the U.S. Bankruptcy Court for the District of New Jersey to implement a restructuring transaction for WeWork Inc. and 516 of its affiliated entities. The restructuring involves complex negotiations with key stakeholders and landlords to right-size WeWork’s real estate leases and position the company for future success. Cole Schotz’s team includes Michael Sirota, Warren Usatine, Felice Yudkin, Seth Van Aalten, Dan Harris, and Andreas Milliaressis.