debt changing hands at a discount is not resolving the debt. the debt still exists and needs to be paid off.
just because one party holding the debt felt it was better to get something right now instead of maybe nothing later decided to sell, doesn't mean the debt goes away.
it's really pretty simple.
whomever bought the debt at a discount is now the party standing in line to be repaid by old sears. the only way they can now make a "big deal on the debt" is to either resell it to someone else or wait to be paid a higher amount by old sears in satisfaction of the outstanding credit claim in bankruptcy.
unless dismissed, old sears will be settling its debt mess for the next 2 to 3 years. if they are dismissed they will be fighting in courts without the protection of bk court for no less a time period.
their only way to avoid a mess it to EMERGE from bankruptcy. they can only emerge if they file a plan of reorganization which is approved by the creditors and the judge.
Bankruptcy emergence occurs when a company goes into bankruptcy, but is able to reorganize its debts and assets, and create a plan to pay all or some of its creditors. The emergence stage of a bankruptcy occurs when the court and creditors agree to a reorganization plan and the judge files the bankruptcy's final decree. The main benefit of emergence over liquidation is the company can continue operating as a business. However, unlike liquidation, most debts are not cancelled, and the company must pay them to avoid another bankruptcy.
and, you still didn't answer my question which was "what assets do you see being available to "old sears" after all is said and done?
