https://restructuring.primeclerk.com/sears/Home-DownloadPDF?id1=MTI3NzU3&id2=0
It's a monster- 315 pages
4 replies (most recent on top)
There was minimal forum shopping involved here, and the BK court for SDNY has, at a glance, 9 other judges. They had three choices of where to file: Delaware (SHC itself), NY (Sears) or Illinois (KMart)
(IIRC). For reasons known only to upper level “leaders,” they chose to file in NY.
I’d wager that most employees will accept the offer from Transform, but there will be quite a few that do not due to changes in the terms of their employment as a result of the sale.
@oxk Shocking!! (sarcasm of course)
As you can see, Eddie is CEO of Transform Holdco. So when he stepped down as CEO from SHC everyone made a deal out of it. As if it actually meant anything.
And for how many weeks or months was all this documentation being developed?
And we know they picked the jurisdiction to file BK in that only had a single judge.
More pieces of the puzzle. All planned out. How nice.
So will all 45,000 current employees be accepting the offers of employment that TH LLC offers you?