Either the creditors will have to accept Eddies continued buyout plan of remaining assets, or accept bankruptcy, or better yet take thier interest in Shop Your Way points or diluted shares that will basically be about 10 cents per share at that point. Either way the creditors are screwed royally at the end of this game. Eddies loans however are backed by Sears collateral and get paid first with whats left . Its a coin flip at this point about what happens next.
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OP Brilliant ! Pay the non-eddie loans off in points at par. Sales skyrocket and debt is slashed !
Legal ? Who knows at this point.
Yeah good luck with that transformation
Eddie will get us out. He is going to transform Sears. We don't need buildings, warehouses, or inventory. We will sell emotion... and receding hairlines. Yes, even the women.