McKool Smith Principal John Sparacino was quoted in ALM GlobeStreet.com's article, "Negotiations Between WeWork and Its Landlords Get Tense." The article reviews the flex space company's debt after filing for bankruptcy. In the filing, there were at least 475 legal entities listed that were owned by WeWork, the vast majority of which are for tenant relationships to landlords. Among the 30 largest unsecured creditors are those claiming unpaid rent, lease termination fees, and related litigation totaling more than $95,993,378. John notes that the mention of bankruptcy “is one of the primary debtor tenant negotiating tactics.”
The full article can be found here.