Thread regarding Sears layoffs

Yeah, unsecured creditors wanted to liquidate rather than sell to Eddie in order to recoup more losses. At the time they indicated a strong desire to sue him if the sale did go through. I just hadn’t anticipated the lawsuit would come from the old company on behalf of the unsecured creditors. Not sure how that works when the Plaintiff is on their corporate deathbed.

What I don't understand is if old Sears gets money from this suit, does it just go to pay the people who helped them with the bankruptcy? The attorney fees and such. They're not running any more stores are they? That's all transform.

I agree this probably won’t get very far. I am curious however if it ever got to trial or more likely a settlement... Is there a clear distinction between the Plaintiff’s filing on behalf of the creditors and the Defendant, ironically the biggest creditor who legally acquired most of said company’s assets? This is normally the part of the show where he does the Eddie dance and somehow reaps benefits from the turmoil surrounding him. Still a bit nervous being sandwiched between the Hatfields & McCoys and being told TransformCo won’t be affected.

Its 3278 not 3728

Not a snowballs chance in hell that this successful.

The docket# 3728 on primeclerk.com is a very interesting read.. it’s over 100 pages but it names all the insiders

If old Sears is administratively insolvent what does that mean for Eddie and Transform?

https://finance.yahoo.com/news/sears-estate-sues-lampert-saying-142830240.html

They’re going to literally run out of money before they can even get to a trial on these claims. If they wanted to actually pursue something like this, it should have been filed months ago. There’s a half decent chance the administrative claims holders shut this down on their own.