Sears Holdings Corp. (fka SHLDQ)

[Seanblue]

between .6146 -.57

[Mr Green Genes]

Seemed like a market to me and a great opportunity for those waiting to snatch them up IMO.

[TigerInTheStreet]

At what pps?

[Orion1972]

what price?

[CBD_Kindaguy]

Cool, good luck. Next.

[CBD_Kindaguy]

What's with the timber???

[Seanblue]

I just sold my 130,000 shares

[Deweynami]

100% I said same this morning, writing on the wall. Liquidation makes the rich richer and hurts working class. Both mentioned have leases in place that are paid, they have agreements and will benefit more if they can break them. ESL will win this

[SPORTSPROPHET]

WHAT THE HECK WAS THAT?!

[Orion1972]

squeeze

[justthefactsmam]

powerful footnote in docket 2379:

Certain members of the UCC stand to benefit immensely from a liquidation. For example, in his October 25, 2018 earnings call, David Simon, Chairman and Chief Executive Officer of UCC co-chair Simon Property Group (“Simon”) stated, “we are going to be able to make money on [Sears’ bankruptcy]” and explained Simon’s intention that Sears’ Stores be “torn down, redeveloped [and] re-leased.” See Weaver Decl. Ex. 3 (Q3 2018 Simon Property Group Inc. Earnings Call – Final, at 4 (Oct. 25, 2018)).

Similarly, in an October 30, 2018 earnings call, James M. Taylor, Chief Executive Officer of UCC member Brixmor Property (“Brixmor”), announced Brixmor’s plan to “capitalize[] quickly on th[e] opportunity” created by Sears’ bankruptcy to evict Sears and “meaningfully upgrade [its] centers.” See Weaver Decl. Ex. 4 Q3 2018 Brixmor Property Group Inc. Earnings Call – Final, at 4 (Oct. 30, 2018)).

It is obvious that, despite the harm liquidation would cause to the estates and their varied stakeholders, members of the UCC have only ever been concerned with their own narrow and self-interested financial goals.

[PennyStock Alert]

Glad I hit the Ask at .60!

[thelionwarrior]

Moving on up! 61s

[justthefactsmam]

also from docket 2379:

Summary Proceeding; not Mini-Trial on the Merits

o The Sale Hearing is a summary proceeding to review the business
judgment of the Debtors, acting through the independent and separatelyrepresented Restructuring Committee, to accept the ESL Bid.

o The Sale Hearing is not a mini-trial on the merits of each and every
allegation made in the UCC’s 139-page publicity-seeking Objection,
which restates—virtually word for word—the UCC’s motion for standing
to pursue claims against ESL.

[justthefactsmam]

Arguments being made by esl at the sale hearing today from docket 2379:

In considering the ESL Bid, particularly in light of the UCC’s constant
misdirection, it is critically important that focus is maintained on what is—and what is not—at
issue in the Sale Hearing.
• Section 363 Sale; not Section 1129 Plan
o The ESL Bid is a proposal to acquire substantially all of Sears’ operating
assets pursuant to a sale under section 363 of the Bankruptcy Code.
o The ESL Bid is not a plan of reorganization under section 1129 of the
Bankruptcy Code.
• Highest/Best; not Administrative Solvency
o The Sale Hearing is about whether the ESL Bid is the highest or best bid
received by the Debtors and will provide the Debtors with more value than
any other alternative, including liquidation.
o The Sale Hearing is not about whether the Debtors will or will not be
administratively solvent after closing—even though that is highly likely.
• Adequate Assurance; not Buyer’s Viability
o The ESL Bid should be reviewed for its ability to provide adequate
assurance of future performance to contractual counterparties.
o The Sale Hearing is not a contested confirmation hearing about the
wholesale viability of Buyer or its business plan.
• Rule 9019 Settlement of Limited Claims; not Assessment of Unreleased Claims
o The ESL Bid requires the release of equitable subordination,
recharacterization, and disallowance claims against ESL to permit credit
bidding, which release is subject to the business judgment standards of
Bankruptcy Rule 9019.
o The ESL Bid specifically preserves other claims, and the Sale Hearing is
not the forum to assess any of the unsubstantiated claims in the UCC’s
Objection that attempt to poison the well for future litigation by walking
through the merits of the unreleased claims (all of which ESL vigorously
disputes).

[Mr Green Genes]

Sure seems that way doesn't it. They're running out of time to cover. This could get very interesting IMO

Short interest was at 12Mil last week so this should tell everyone something. they're slowly trying to cover imo

Short Interest (Shares Short)
10,345,300
Short Interest Ratio (Days To Cover)
0.6
Short Percent of Float
%
Short % Increase / Decrease
1 %
Short Interest (Shares Short) - Prior
10,202,100

shortsqueeze.com/?symbol=shldq&submit=Short+Quote%E2%84%A2

[BBANBOB]

nadda

[Deweynami]

44k bid moved up 1/4 cent to get his filled

[justthefactsmam]

linda,

this from page 14 of docket #2379 filed this morning:

30. ESL holds approximately $2.4 billion of senior secured debt of Sears.

In the Buyer’s capital structure, more than $1.3 billion of this debt will be converted into equity.

ESL is investing over $300 million in cash to facilitate its credit bid, including buying out other senior debt holders under the IP/Ground Lease, the FILO Facility, the Real Estate Loan 2020 and the Sparrow mortgage debt. Furthermore, ESL will be extending substantial long-term credit to New Sears, including a minimum of $106 million of the New Letter of Credit Facility and $87.5 million as part of the three-year Real Estate Loan. ESL therefore has much to lose if the Buyer’s go forward business plan is not successful.

____________________________________________________________________
notice reference by esl to "New Sears"

[TigerInTheStreet]

I think we wait. Wednesday or Friday at least

[Seanblue]

Is news coming today or do we wait for friday?

[TigerInTheStreet]

Nothing! There is someone waiting to get his 166k shares order filled.

[Orion1972]

give me a 1 min head start please

[Seanblue]

I have 130,000 shares in shldq if i sold now what would happen to the stock price?

[Orion1972]

my gut is telling me a squeeze is coming.. but i have no L2 access just gut.

[SPORTSPROPHET]

ROTFLMAO!!

[SPORTSPROPHET]

Once this hits $1, there will be a huge amount of investors to come in.

BUCKLE UP SHLD(Q)!

SP

[Orion1972]

crazy. this is so interesting...

[PennyStock Alert]

It’s probably Judge Drain :)

[LQMTinvestor2018]

That’s still only a $100k bid. We will have lots more for larger amounts soon.

[PennyStock Alert]

There we go! Thank you for the update sir!

[justthefactsmam]

i believe that's what the royalties are supposed to cover. if pbgc takes over the two pensions and the chicago court orders it effective as of 1/31/2019 (last thursday) i would think that pbgc is willing to take on the shortfall subject to their ongoing agreement to receive royalties.

i haven't seen anything where they are asking the shortfall to be made up in this bk action.

if drain is employee friendly, he would "clarify" the royalty issue in favor of pbgc. however, according to the article posted, esl is saying pbgc misread the docket, whatever that means. they didn't specify the nature of the "misreading" so who knows?

[Scotttrader80]

Notice of Proposed Order : Notice of Filing Second Revised Proposed Order

(I) Approving the Asset Purchase Agreement Among Sellers and Buyer

(II) Authorizing the Sale of Certain of the Debtors Assets Free and Clear of Liens, Claims, Interests and Encumbrances,

(III) Authorizing the Assumption and Assignment of Certain Executory Contracts and Unexpired Leases in Connection Therewith and

(IV) Granting Related Relief (related document(s)2332, 816, 429, 1730) filed by Sunny Singh on behalf of Sears Holdings Corporation.

https://restructuring.primeclerk.com/sears/Home-DocketInfo

[SPORTSPROPHET]

I wonder who that is?

[Orion1972]

Bigger fish are showing up!

[TRUSTUNITS1000000]

Thanks

[Orion1972]

"Cure the default" or "cure" means to perform the obligations under the contract which are described in the notice of intent to forfeit and which are in default, to pay the costs and attorneys' fees prescribed in the contract, and, to make all payments of money required of the purchaser by the contract which first become due after the notice of intent to forfeit is given and are due when cure is tendered [Rev. Code Wash.

[PennyStock Alert]

$105K bid!

[RiskyBoy1989]

Shorts covering at .60... lmao

[TRUSTUNITS1000000]

Why are we moving, where Is the news

[TRUSTUNITS1000000]

What does cure mean

[PennyStock Alert]

WOW!! BIG BID!

[Lcbm68]

We are back in again

[SPORTSPROPHET]

TOP OF THE MORNING TO YOU BOYS!!

[TRUSTUNITS1000000]

How much does a commercial cost these days, in the 80.s it was around million

[Illini18]

There is a huge bid at .60...

[Mr Wowza]

175k bid that I call nice support

[Orion1972]

Is it me or is pbgc is omitting their 1.7 billion stake in kenmore and diehard. Or is that what the royalties are for?

[TRUSTUNITS1000000]

Wow someone said dollar land

[JMMatthews]

As usual

SHLDQ $$$