chemist,
my recollection of the agenda for the omnibus hearing on march 21 was to provide an update on the por.
however, in the recent filings responding to lampert's request for a mediator to be appointed to resolve disputes between holdco and old sears, olds sears filed another request which objected to the request for a mediator. old sears also filed a docket requesting the judge to order lampert to turn over $57.5 million that lampert was "holding hostage" which had nothing to do with the mediation.
these were evidently "money in transit" which was to be turned over to old sears once received by lampert since old sears had allowed holdco to utilize old sears' cash management system because holdco had failed to set up their own cash management system when the closing took place on february 11.
in the motion requesting the judge to order lampert to turn over the money, old sears said not having that money was placing old sears in danger of becoming administratively insolvent and it was jeopardizing old sears' ability to draft and present a por.
so, i don't see how a por could be filed on the 21st of march.
missed the filings talking about the omnibus hearings in april and may which you referenced so not sure the subject of those two hearings.
my feeling regarding what an update might include would be more along the lines of "we're working on it", "expect to file it by ____", and based on the recent filings possibly something along the lines of "we can't provide an update because we don't have the money to pay the lawyers to work on it because lampert is withholding funds owing to us which are necessary to advance the preparation of the por".
absolutely would be surprised if there are any specifics, especially as it relates to common shareholders.
expect a lot of fireworks at this hearing, a lot of smoke, but not much clarity on the por.
