then have to assume all the liabilities personally or through his hedge fund?
Is there a chance he could do it?
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Any lawyers out there or people who work in hq with a definitive answer? There was someone a while back who said they worked in hq who claimed that discussions with bk lawyers had taken place but that was a while back.
If he could take it public could he strip off all the assets and leave only the liabilities and then have it go by or not?
he could set up another holding company aside of his fund to take it private- there were rumours in 2012 that he would tke it private although do we now think that with things so much worse he would not take on the liability? I guess if he did then he or a consortium would be responsible for the debts and the liabilities-its clear that the liabilities outweigh the assets in a way which they didnt in 2012 so i guess that would put him off. Although it would be advantageous for him to kill sears out of the public spotlight it would cost him circa $500 million to hoover up the rest of the shares then I suppose he takes on all that debt and pension stuff- do we think its not even remote option? I mention this as I was thinking of buying put options but am concerned he could take it private.
No way Eddie or Bruce wants that liability. Those two may by arses but they are not stupid.
His fund cannot own private Co's nor can Fairholme. My buy 2B negative cash flow?
Da' boss no want no retail business he could care less 'bout apparel, reefers & tools he want the RE -- on 2nd thought mayb someone been smokin' too much reefer
I'm no lawyer but I would think just like when you buy a business you also assume the liabilities,and that if he would take it private that the debt would go with it. Not worth it in my opinion. Why not wait for BK and have your hedgefund or Seritage buy the assets at pennys on the dollar?