Sears Holdings Corp. (fka SHLDQ)

[linda1]

There was a change of ownership in the WMI
Bankruptcy when the new Commons were issued
and it reduced the NOLs from $7.5 B to $ $6 B.

So the NOLs get reduced not nullified.


I wonder if the Holdco “ Securities Consideration “
that will be paid to the Debtors upon the approval
and closing of the 363 Sale includes the Holdco
Equity that will be exchanged for the $ 1.3 B Debt?


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


If Sears is planning to liquidate the remaining Stores
it does not necesssarily mean that it includes selling the
empty Stores and Land that Sears owns.
Sears could emerge from bankruptcy with these properties
and later sell them to Amazon for its expansion of Whole Foods.


I have posted earlier that old Debt can also preserve the
NOLs as long as the Creditors of the old Debt receive at
least 50 % of the new Commons - or is it as long as both
old Debt and old Equity receive at least 50 % of the new
Commons? I can’t recall but it is one or the other.