Media Mentions
Michael Barrie Quoted in Law360 | “Top Bankruptcy Cases of 2024: Midyear Report”
September 3, 2024
Michael Barrie, Chair of Benesch’s Insolvency & Creditors’ Rights Practice Group, was quoted in Law 360’s midyear report on the top bankruptcy cases of 2024.
The article focuses on WeWork’s Chapter 11 bankruptcy, highlighting the company’s $10 billion in obligations and its successful emergence in May after eliminating $4 billion in debt. As part of its restructuring efforts, WeWork renegotiated leases and exited 150 locations, resulting in $8 billion in rent savings.
“It was another force-of-market event,” said Barrie. “They had a good business model but got into the market high, and then Covid eliminated the need for office space for about a year.”
To read the full article, click here.
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