Replies to post #31744 on Sears Holdings Corp. (fka SHLDQ)

[jimr1717]

Agree RIP COMMONS

[bar1080]

Yes, Justthefactsmam: "this just further reinforces my opinion that common shareholders are toast."

[Pink 2 long]

Why did Eddie invest in shares?

[chemist72]

Have to agree with you conclusion.

The two key sentences I found were the first one in your post and also the following sentence found in section 9:

9. … After the entry of the Sale Approval Order, and the transfer of substantially all of the Debtors’ operating assets to New Sears, the “specified special purpose” for which Wachtell was employed under section 327(e) is no longer necessary, and the Debtors agree that Wachtell has no further meaningful role to play in assisting the Debtors.

Just to reinforce your post I repeat the important part you already quoted:

4. After the entry of the Sale Approval Order, and the transfer of assets from the Debtors to New Sears, the Debtors will primarily will(sic) be engaged in the resolution of creditor claims, the distribution of their remaining assets to their creditors, and the pursuit of litigation claims.

[Ihub1232]

So you think that Lamperts investment company can buy the assets, leave all the debt behind, AND continue to call the company SEARS? Oh yeah and dump the common shares and reissue new shares just to screw every person invested? Man why doesnt everyone buy companies out of bk then. Sounds like a no brainer proposition!