In brief With a potential WeWork restructuring on the horizon, this article explores some unique issues landlords may face under their WeWork leases, with a focus on how courts around the world might address them. Key takeaways Landlords have built spaces that specifically cater to WeWork’s focus on co-working arrangements. As WeWork attempts to shed leases in a restructuring, landlords may be left with specially built spaces that are difficult to re-let. This may be…
This article was first published on Law360.com and reproduced with permission from Law360. The Differences Between Assumption and Reinstatement under the Bankruptcy Code Although a debt agreement may be considered a contract under which both parties have ongoing obligations, section 365(c)(2) of the US Bankruptcy Code expressly prevents a debtor from treating it as an “executory contract” that a debtor may “assume” or “reject” under section 365. Instead, the debt agreement analogue to assumption is…