Sears Holdings Corp. (fka SHLDQ)

[linda1]

I don’t think that Lampert can unilaterally protect
the Common Shareholders from zero recovery
since Chapter 11 Rules state that Senior and
Junior Debt must be paid in full first - unless
Creditors vote otherwise.

On the other hand - why would he mislead
Shareholders by stating in the Bid - dated Dec 28 -
that both Creditors and Shareholders would benefit
by his winning Bid?

Lawyers are very careful about words they choose
in legal documents. Did they make an error in
wording?

Anyways - I am wondering what happens if the
Judge approves the Sale of Sears to ESL and then
the Creditors do not approve the POR?