Sears Holdings Corp. (fka SHLDQ)

[justthefactsmam]

“ The Sale Transaction does not constitute a de facto
plan of reorganization or liquidation as it does not propose
to (i) impair or restructure existing debt of, or equity
interests in the Debtors, ......”

but the good news is there is even more from that section.
first thing is to address what is meant by a de facto por.
a de facto plan of reorg. has sometimes been referred to
as a sub rosa (i.e. under the table) plan or a creeping plan
of reorg. by that is meant a plan in which some type of
agreement outside of the bankruptcy plan is sought which
could have a significant impact on the bankruptcy case and
the bankruptcy estate.

in other words, they are saying there are no shenanigans
going on. that this is NOT a de facto or sub rosa por.