Eddie Lampert had a choice to make. He is either Eddie Lampert the shareholder.. or Eddie Lampert the creditor and he chose to be Eddie the creditor. Why? Because he has what is known as a "conflict of interest". And when that happens the shareholder (no matter who it is or how large his equity stake is) ALWAYS chooses and uses his or her position as a creditor to its fullest advantage. Why? Because bankruptcy laws were made spefifically to protect creditors above all others. It is called " absolute priority". Look it up. Eddie the shareholder, according to the rule of absolute priority, is at the bottom of the totem pole..so are you..but Eddie the creditor (and not just any creditor but a secured creditor) is top dog over all comers.
In faith there is enough light for those who want to believe.. and enough shadows to blind those who don't. ~ Blaise Pascal
