Now that makes logical sense that it will be Holdco who will pay ESL in new Holdco Common Stock for the cancellation of ESL’s $ 1.3 B Debt.
And it looks like then that the “ Securities Consideration “ will be sold by the Debtors to distribute funds to Creditors.
Yes - there is still Debt owing to a few Senior Creditors and all Unsecured Creditors. What the remaining Assets and Liabilities are after the 363 Sale is approved will help to determine if Common Shareholders receive new Newco stock.
I agree that Transform Holdco will change its name to Sears.... once it owns the Sears name.
If Sears emerges from bankruptcy won’t it have to change its name to something other than Sears..... since it will no longer own the trademark name?
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