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A U.S. bankruptcy judge approved WeWork's Chapter 11 bankruptcy plan, allowing the shared office space provider to eliminate $4b in debt and hand the company's equity over to a group of lenders and real estate technology company Yardi Systems.
U.S. Bankruptcy Judge John Sherwood approved WeWork's restructuring at a court hearing in Newark, New Jersey. With that approval, WeWork will be ready to exit from bankruptcy with no debt "in a matter of days," WeWork attorney Steven Serajeddini said at the hearing.
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