the invented securities you claim don't exist are spelled out in the referenced document. these are securities of a private company which is 100% owned by lampert. these could be a private placement or an unregistered offering exempt from sec registration. the fact no cusip is associated with them does not support your case.
however, if that's what you believe, then why not report it to the sec for filing a false statement?
you can put your boots in the oven, but that don't make em biscuits.
i actually do respect there can be differing opinions regarding how this will ultimately shake out. one difference between what you have opined and what i have is that my conclusion(s) have been based on posted documents, references to established tax rules and bankruptcy code.
you are entitled to your opinion but other than feelings that lampert will not abandon his shldq stock you have provided absolutely no supporting documentation.
the facts of this case are not currently aligning very well with a lot of opinions stated here.
another example of one of those recent opinions is that lampert would not walk away from the nols. the fact is that lampert purchased the tax assets (nols and tax credits) from old sears when transform holdco's $5.2 billion bid was approved by judge drain. therefore, he already has the nols and tax credits. he's not walking away from anything.
as i posted earlier, lampert's shld(q) holdings were at one time valued at $12 billion. around the time of the bankruptcy filing, his holdings were valued at around $20 MILLION.
based on friday's closing price, it would now be valued at a little under $50 MILLION.
lampert doesn't need to trade holdco shares for sears shares. he already owns everything he wanted when his $5.2 billion bid was approved by the bk court. he gains NOTHING by exchanging holdco shares for shldq shares. he owns 100% of all the assets he purchased from shc. exchanging holdco shares for shldq will not permit him to own more than the 100% he already owns.
other than p/r or elevation to sainthood, nobody has been able to cite any supporting documentation as to why he would do this. it costs him $ to do what you are suggesting and there is no cost for not doing it.
