WeWork Inc.

WeWork is now a post-emergence claims-administration case, with the reorganized business out of chapter 11 and the docket focused on UCC Settlement Trust claim resolutions, claim satisfactions, and an adjourned July 7, 2026 omnibus hearing. The case began on November 6, 2023, when WeWork and debtor affiliates filed chapter 11 petitions after a long deterioration in the flexible-office platform’s capital structure and lease portfolio, including the fallout from the withdrawn 2019 IPO, COVID-era occupancy pressure, and a rent-heavy footprint that remained difficult to carry despite lease amendments and more than $12 billion of reduced future rent obligations. By the petition date, the company had withheld $95.2 million of interest payments and $78 million of rent payments, then entered chapter 11 with an RSA supported by SoftBank and about 92% of secured noteholders, targeting a balance-sheet restructuring, lease rationalization, a DIP TLC facility, and a capped $100 million new 1L exit term loan facility under the milestones described in the Tolley First Day DeclarationDkt. 21.

The restructuring path moved through a reorganization plan rather than a sale. The amended plan classified claims across 13 classes, converted certain DIP TLC claims into exit obligations, provided for new-interest distributions, created the UCC Settlement Trust for general unsecured claims, and contemplated exit financing, new governance, releases, exculpation, and continued court jurisdiction over implementation and claims matters through the Amended Chapter 11 PlanDkt. 2051. The operational core of the case was lease and contract treatment: the plan supplement reflects emergence as reorganized debtors on June 11, 2024, broad assumption of go-forward executory contracts and leases subject to exceptions, rejected agreements, cure mechanics, and negotiated real-estate changes including reduced terms, reduced rent, gross-lease conversions, and revenue-sharing components in the .