Sears Holdings Corp. (fka SHLDQ)

[RiskyBoy1989]

I think PBGC is not a issue any more.. their lawyer spoke for 3-4 mins only in front of the judge according to the SA source.

Also PBGC likely knows it won't get any more pension contributions from SHLD to make up the deficit---regardless of what Eddie promised in the past.

At this point they just want to have the district court do what is called "trustee the plans" to the PBGC and the participants will then be paid based on PBGC rules.

The pension deficit can still be reduced as long as the bankruptcy court recognizes the "springing liens" which were triggered by the bankruptcy and also by the PBGC filing on Feb 1 in district court to terminate the right of SHLD to operate the plans. The actual deficit might be more or less than $1.7B.