WeWork Inc. asked a bankruptcy court for more time to maintain control of its Chapter 11 case and prevent creditors from filing competing restructuring proposals.
The request comes as the coworking giant faces calls from its junior creditors for probes into WeWork and its largest equity holder, SoftBank Group Corp., as part of their effort to obtain higher payouts amid the bankruptcy. Allowing creditors to take further steps by filing their own plan proposals would “unnecessarily complicate” the bankruptcy process, WeWork said in a motion filed Monday in the US Bankruptcy Court for the District of New Jersey.
The company ...
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