Thread regarding Sears layoffs

Legal shelter

As disgusting as this is, It doesn’t come as a surprise to me. For me, all of this has been about EL getting a personal benefit and saving himself and never about saving the company, peoples jobs, families. A lot has been done at Sears in the past years that is, to put it like this, on the verge of legality, so from EL perspective it was logical to demand some sort of legal immunity as a condition for his bid. What will happen time will tell, but this is just some more proof ( in case that what we've seen already wasn't enough) that no one has the workers interest in mind and that this is just about the leaders walking out with the money.

https://www.post-gazette.com/business/legal/2018/12/08/Eddie-Lampert-s-Sears-bid-comes-with-a-key-demand-Legal-shelter/stories/201812080023

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Post ID: @OP+WxsaC4Y

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The SEC doesn't do blanket releases anyway. This is beyond the scope of the judge's power.

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Post ID: @1icu+WxsaC4Y

The judge cannot grant him a blanket release from liability if he wanted to. Only parties involved can grant a release from liability. It is outside the scope of law to grant a release from liabilities to parties who have neither been informed of such a request; and have not made such an agreement.

For example a shareholder who has not granted such a release cannot be prevented from launching a lawsuit based on damages incurred as a breach of fiduciary duty.

A group of creditors could; at their option; agree to such a release; but only in so far as it pertains to them as a group.

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Post ID: @1qsq+WxsaC4Y

It'll only cost someone 4.7 billion to out bid him. Then the winner can hope someone has the desire to go through 15 years of documents, interview people, build a case and see what happens. But ya gotta out bid him first

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Post ID: @ocj+WxsaC4Y

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