Sears Holdings Corp. (fka SHLDQ)

[justthefactsmam]

one of the criticisms of the unsec. creds. it that esl used money loaned to the company to buy back shares which served to lower the outstanding shares and increase his % of the company common stock which he either owned or controlled.

little doubt that as president and ceo lamert knew in advance of the bk filing and established holdco prior to that just ti let him hit the decks running.

agree with linda's comment that judge drain seems to be leaning toward approving a going concern proposal as opposed to an outright liquidation.

included in the unsecured creditor base would be mall owners like simon properties who have more to gain via liquidation than possibly having to be forced to accept less on a go forward basis.

these mall owners never seem to be around when a troubled retail tenant seeks concessions but then always have an answer once bk occurs. they are as self-serving as the other side.

expect the 4th to be contentious but that drain will ultimately rule for esl's go forward bid.