Sears Holdings Corp. (fka SHLDQ)

[linda1]

I never said in my post that certain Senior Creditors’
Debts and the $ 3.5 B in Unsecured Creditors’ Debts
will be on Tranform Holdco’s Balance Sheet.


In fact - I said the exact opposite. The 363 Sale
eliminates the above - mentioned Debts from the
APA/Balance Sheets of Transform Holdco. In other
words - those Debts will never show up on Holdco’s
Balance Sheet because of the 363 Sale.


SHLDQ entered Bankruptcy with 687 Operating
Stores and over 100 liquidating Stores. So SHLDQ
will still own a lot of property not purchased by
Transform Holdco and I think it will be enough
to be classified as a Merger if Stock is exchanged.


I do not think that WMIH was a Shell holding NOLs
when it emerged from bankruptcy. I may be incorrect
but I think it reorganized around at least one
Operating Business worth at least $ 50 M. I will
review WMIH’s post bankruptcy 10-Qs to find out
for sure.