WeWork Cleared to Exit Bankruptcy, Shedding Neumann Legacy (1)

WeWork Inc. won bankruptcy court approval to shed billions in debt, drop unprofitable leases from its office workspace portfolio and leave behind the legacy of co-founder Adam Neumann.

US Bankruptcy Judge John K. Sherwood on Thursday said he’d approve the co-working company’s restructuring plan, clearing WeWork’s path to exiting bankruptcy under the ownership of its senior lenders.

“It’s been a little more than six months but it’s felt like a lifetime,” company attorney Steven Serajeddini said, referring to tough negotiations and various disputes WeWork navigated since it filed bankruptcy last year.

In the coming days, the company plans to ...