Sears Holdings Corp. (fka SHLDQ)

[justthefactsmam]

there is e-filing available so filing over the weekend would not be unusual.

the court had previously entered an order giving the "ok" to the cyrus purchase of the swaps, based on the evidence in front of the court at the time. opposing parties said they were not aware of the impact of the cyrus bid and the fact it would lock up the swaps, thereby depriving other parties of "legitimate" access through the bidding process of acquiring some or all of the swaps.

this motion is asking the court to approve their request for discovery against cyrus to see if anything untoward went on at the time cyrus bid and locked up the swaps.

i believe these swaps were a way to mitigate or hedge exposure and as a result of cyrus effectively "cornering" the market on them, no one else was able to mitigate their position.

this upcoming auction will in no way close off further filings. the docket will be active for quite some time.