Replies to post #35590 on Sears Holdings Corp. (fka SHLDQ)

[chemist72]

shareholders should be responsible and they should pony up $55 per share they own to cover the $6B in debt

This is a VERY important point that should be driven home on this board. Shareholders derive a great BENEFIT from bankruptcy in NOT being responsible for SHC's massive debt load of about $6B.

Generally, shareholders are not personally liable for the debts of the corporation. Creditors can only collect on their debts by going after the assets of the corporation.

https://www.nolo.com/legal-encyclopedia/personally-liable-business-bebts-business-bankruptcy.html