Sears Holdings Corp. (fka SHLDQ)

[linda1]

I hereby correct a previous error I posted -
the Series B Preferred Units have a
higher ownership interest than the Commons
and their voting power is determined by
the issuer.

I googled Series B Preferred Units and found
an issuance of Series B Preferred Units to have
no voting power and another issuance to have
the same voting power as the Commons.


I may be incorrect but I think that the Holders
of the Secured Second Term Obligations who
are to receive a portion of the Series B
Preferred Units is either ESL’s Credit Bid
or one of the Debt ESL holds.


You are correct in that - per the APA - ESL is
very much trying to obtain the NOLs. I read
somewhere that the final approval of any
of the Sales Transactions qualifying as a Tax
Reorganization is from the IRS.


I agree that there is a lot of misinformation
posted about the 363 Sale. As you state
Transform Holdco is buying only certain Assets
of SHC and not the Common Shares of SHC.
SHLDQ Commons have zero ownership in
Transform Holdco and 100 % ownership interest
in the remaining Assets in the Debtors’ Estate.