If the 363 Sale to ESL/Transform Holdco is approved then the SHLDQ Shareholders’ Interests will be in what ever Assets and NOLs/Tax Attributes are left with the Debtors after the Sale.
I think that if the Debtors want to reorganize and emerge from bankruptcy, and the collective $ amount of the remaining Assets and NOLs/Tax Attributes exceeds the Liabilities/Creditors’ Debts, then I see the Commons receiving new Newco/Sears stock.
However, until the 363 Sale is approved and Closed and the Debtors subsequently file financial statements showing the remaining Assets and Liabilities, I am just surmising that the Commons will receive some of the new Newco/Sears stock if Sears reorganizes.
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