the sale transaction has not closed yet. therefore "old sears" i.e. NOT LAMPERT"S COMPANY, TRANSFORM HOLDCO, is continuing to operate the properties, which would include things such as this news release.
the following section is from the asset purchase agreement setting forth some of what "old sears" i.e., the company associated with shldq stock, needs to do. while this section addresses the obligations of "old sears" after the closing takes place, as of now since the closing has not taken place and lampert does not yet own everything on which he bid and which the judge approved in his order, it should not be viewed as anything out of the normal for "old sears" to be continuing to do these types of things.
any of you ever purchased a house? fine, you signed a contract, but until the bank funds the purchase, or you pay cash and actually CLOSE the purchase, the property is not yet yours to do with as you please. that's where lampert is at this point. HE HASN'T CLOSED
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during the period between the Closing Date and its (meaning "old sears")
dissolution, shall limit its activities to those which are merely for the purpose of liquidating its assets (which may include maintaining a going operation for the preservation of value, pending distribution or sale), winding up its affairs, resolving and paying its debts, and distributing any remaining assets (which may include a distribution to a non-corporate liquidating vehicle).
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NOTICE, after the closing, while lampert is going on his merry way running the assets he purchased in the way he want to, the company from whom he purchased those assets, namely "old sears" has to do those things set forth immediately above. NOTICE also, it is planned that "old sears" will be totally liquidated within 3 years of closing the deal with lampert!!!
