https://www.google.com/amp/s/footwearnews.com/2019/business/legal-news/sears-bankruptcy-court-hearing-lawsuits-1202803147/amp/
6 replies (most recent on top)
Who cares, this company will sink fast since the underlying issue of distribution has never been fixed. The company can shrink down to just a single store, and it'll still go out of business.
@ryx:
You’ve got a bad case of wishful thinking. The mere existence of an examiner presupposes that the sale is valid and thus liquidation cannot occur. All said examiner would be doing is serving as an arbitrator to get Eddie and Holdings to work out the ongoing disputes over inventory and paying each other. The examiner has no power to dig into the circumstances of the sale, and the bankruptcy court itself cannot force liquidation of Transform owned assets (ie, stores, DCs, etc). However, there probably won’t be an examiner appointed because both sides will do what they always do and resolve the issue before the court can get involved.
@ryx- I hope this clown act gets closed down!
@102IJg1d-ryx - The court already made it's decision and can't undo it's decision on allowing Sears to exit the bankruptcy process. This is in regards to what was promised between old and new Sears. The judge initially stated a while back that they needed to resolve the dispute. Since it still hasn't been resolved, the judge had threatened to get an examiner to review and decide on the shortfall dispute between old and new. The examiner will make a final decision if the inventory shortfall of old Sears warrants Eddie decision to not pay the originally agreed amount.
If Eddie is smart he will pay the $200 million to prevent a examiner from getting appointed.
This could be something here. If an examiner is appointed, sears will be liquidated most likely due to all the lies and inaccuracies the individual will bring to the truth of the open court. I so hope drain appoints the examiner. This definitely needs to happen and shut this thing down finally once and for good. 22 July will be a great day to find out this information. I am going to do some research to see if the dirty rocksucker can appeal or get an extension on this one, but I don't think he can. Finally he may be getting what's deserved!!