In brief On 7 June 2024, the National Diet of Japan enacted the Act on the Promotion ofCash Flow-Based Lending (âActâ). The effective date of the Act will be separatelydetermined within two and half years from its promulgation on 14 June 2024.The Act will bring into effect a new type of security interest called the âEnterpriseValue Chargeâ (âEVCâ) by which the entire assets (including future assets) of acorporate debtor can be collateralised.In this article we…
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…