Sears Holdings Corp. (fka SHLDQ)

[chemist72]

Estimated recovery of Class 4 (General Unsecured Claims).

Info below from Docket 3895.

Class 4 claims are 4th in line to receive payments, way ahead of Class 9 claims (which includes SHLDQ shareholders among others).

Guess how much they are owed and guess how much SHC expects them to recover?

Class 4's estimated allowed claims are $3,940,000,000. (That's 3.94 Billion dollars).
Class 4's estimated percentage recovery is 2.5%. That is 2 and one-half cents per every $1 claimed which would be a total of about $98.5M.

Unbelievable. That is why Classes 6,7,8, and 9 are all expected to receive 0% recovery. (Class 5 is a special case of ESL claims which I'm not going to try and explain. If you're interested, READ THE DOCKET.)

So basically, SHC expects to be down to their last $100M in cash after paying off Classes 1, 2, and 3.

Very sad for those in Class 4 and lower classes.