Ontario · CCAA
First Report of the Information Officer
Court officer report · 12 December 2023
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing13 verified
- secured creditorsnote: Canadian Debtors and Canadian Limited Partnerships are not guarantors or equity pledgors under WeWork's secured debt facilities; 65% of equity of 9670416 Canada Inc. pledged as collateral under LC Facility and Secured Notes · page: 31 · as of: Petition Date · amount: 988000000 · debtor: Chapter 11 Debtors (WeWork Inc. and affiliates) · creditor: Senior LC Facility lenders · currency: USD · security: Secured credit facility; approximate outstanding principal amount (not including accrued interest)
- secured creditorsnote: Canadian Debtors not guarantors/pledgors · page: 31 · as of: Petition Date · amount: 470000000 · debtor: Chapter 11 Debtors (WeWork Inc. and affiliates) · creditor: Junior LC Facility lenders · currency: USD · security: Secured credit facility; approximate outstanding principal amount
- secured creditorsnote: Canadian Debtors not guarantors/pledgors · page: 31 · as of: Petition Date · amount: 525000000 · debtor: Chapter 11 Debtors (WeWork Inc. and affiliates) · creditor: Series I 1L Notes holders · currency: USD · security: First lien secured notes; approximate outstanding principal amount
- secured creditorsnote: Canadian Debtors not guarantors/pledgors · page: 31 · as of: Petition Date · amount: 306000000 · debtor: Chapter 11 Debtors (WeWork Inc. and affiliates) · creditor: Series II 1L Notes holders · currency: USD · security: First lien secured notes; approximate outstanding principal amount
- secured creditorsnote: Canadian Debtors not guarantors/pledgors · page: 31 · as of: Petition Date · amount: 181000000 · debtor: Chapter 11 Debtors (WeWork Inc. and affiliates) · creditor: Series III 1L Notes holders · currency: USD · security: First lien secured notes; approximate outstanding principal amount
- secured creditorsnote: Canadian Debtors not guarantors/pledgors · page: 32 · as of: Petition Date · amount: 687000000 · debtor: Chapter 11 Debtors (WeWork Inc. and affiliates) · creditor: 2L Notes holders · currency: USD · security: Second lien secured notes; approximate outstanding principal amount
- secured creditorsnote: Canadian Debtors not guarantors/pledgors · page: 32 · as of: Petition Date · amount: 188000000 · debtor: Chapter 11 Debtors (WeWork Inc. and affiliates) · creditor: 2L Exchangeable Notes holders · currency: USD · security: Second lien exchangeable secured notes; approximate outstanding principal amount
- secured creditorsnote: Canadian Debtors not guarantors/pledgors · page: 32 · as of: Petition Date · amount: 23000000 · debtor: Chapter 11 Debtors (WeWork Inc. and affiliates) · creditor: 3L Notes holders · currency: USD · security: Third lien secured notes; approximate outstanding principal amount
- secured creditorsnote: Canadian Debtors not guarantors/pledgors · page: 32 · as of: Petition Date · amount: 270000000 · debtor: Chapter 11 Debtors (WeWork Inc. and affiliates) · creditor: 3L Exchangeable Notes holders · currency: USD · security: Third lien exchangeable secured notes; approximate outstanding principal amount
- unsecured creditorsnote: Unsecured senior notes; Canadian Debtors not guarantors · page: 32 · as of: Petition Date · basis: Reported approximate outstanding principal amount for funded debt obligations · amount: 164000000 · debtor: Chapter 11 Debtors (WeWork Inc. and affiliates) · creditor: 7.875% Senior Notes holders · currency: USD
- unsecured creditorsnote: Unsecured senior notes; Canadian Debtors not guarantors · page: 32 · as of: Petition Date · basis: Reported approximate outstanding principal amount for funded debt obligations · amount: 9000000 · debtor: Chapter 11 Debtors (WeWork Inc. and affiliates) · creditor: 5.000% Senior Notes holders · currency: USD
- unsecured creditorsnote: Aggregate figure for unpaid October/November rent across Canadian Locations; no individual landlords named · page: 34 · as of: Petition Date · basis: Reported by Proposed Information Officer as outstanding Pre-Filing Rent owed · amount: 6300000 · debtor: WeWork Canadian Entities · creditor: Canadian Landlords (Pre-Filing Rent) · currency: USD
- financial positionnote: Report states total liabilities exceeded total assets by approximately $32 million as of June 30, 2023; total liabilities figure derived from Total Liabilities & Equity ($204,792k) minus Equity ($32,232k) per trial balance table, not an independently stated total liabilities line · page: 45 · as at: 2023-06-30 · basis: Unaudited summary consolidated trial balance based on books and records of the Canadian Business · scope: Consolidated - WeWork Canadian Entities (9670416 Canada Inc., WeWork Canada LP ULC, WeWork Canada GP ULC, 700 2 Street Southwest Tenant LP, 4635 Lougheed Highway Tenant LP, 1090 West Pender Street Tenant LP) · currency: USD · total assets: 204792000 · total liabilities: 172560000