Very interesting. Beginning to wonder if SHC has some doubts whether or not their Chap 11 Plan will be confirmed?
Besides all the objections to confirmation that I've seen in recent dockets, there has now been an objection raised by a US Trustee (docket 4681).
All this leads me to believe that this case will end up as a Chapter 7 liquidation. This won't help SHLDQ shareholders, as the trustee in charge of a Chap 7 liquidation, must follow strict rules in regards to the distribution of any assets remaining in the estate. The US Trustee filing even implied that there might not be enough assets to even satisfy all the administrative claims. (I don't have the exact quote from the docket, but I distinctly remember the trustee mentioning the fact that there was likely only a "razor thin" margin of error in satisfying all the administrative claims, not to mention other claims that have a higher priority than even the unsecured creditor claims.)
Therefore, I'm now "predicting" a Chapter 7 resolution as the most likely route for completion of the Sears Holdings Corp. bankruptcy case.
Only time will tell.
