Sears Holdings Corp. (fka SHLDQ)

[justthefactsmam]

if judge drain were to declare shc and its debtor subsidiaries to be administratively insolvent, he could either convert the chapt 11 case to a chapt 7 liquidation and appoint a trustee which would cost even more money to wind down and liquidate the empty shell.

he could also "dismiss" the case which would mean that the protection shldq currently receives in bk court would be gone and every entity owed money by shldq would bring suit against each and every one of them in state or federal court and shldq could not hold them off via bankruptcy rules.

whether or not the "q" came off in either one of those scenarios, the stock would be worthless, as it currently is.

in either one of those cases, everything which transform holdco purchased would still remain with transform holdco and not be subject to any of the claims against shldq.

eddie would still have the same liability as he currently does which is to say the unsecured creditors could still bring suit against him like they have threatened to do but i still think that would be an uphill battle.