Under federal law. Class 1a priority for back wages, Valid Severance claims, ecetera, are guaranteed at 100% from the wind down account. Any class 2-8 claims are worth a few pennies on the dollar. Class 9 claims are worthless. Coming soon.
https://www.nolo.com/legal-updates/2019-changes-to-priority-bankruptcy-claim-amounts.html
Remember, Administrative expenses get paid first and there is a danger that Sears Holdings is administratively insolvent. Also, remember we are talking about old Sears not new Sears.
" Sears owes even more money that they don't have, correct? "
@qck
Where you been the last decade... its been that way for at least that amount of time
So....what does this mean? From what I read, it seems to mean that Sears owes even more money that they don't have, correct?