SEARS bankruptcy case, continues the rackets

[keithbvadu2]

7. Financial dealing - to yourself - Sears, Kmart

Financial dealing – to yourself – Sears, Kmart

https://www.bloomberg.com/news/articles/2018-09-27/lampert-s-sears-plan-would-hand-lampert-s-hedge-fund-1-billion

CEO’s Plan to Save Sears Would Hand His Hedge Fund $1 Billion

Eddie Lampert’s hedge fund has a new plan for cutting Sears debt. The main beneficiary would be Eddie Lampert’s hedge fund.

Proposal calls for some creditors to get ‘worthless’ equity

“To have debt that’s convertible into equity when the equity is worthless doesn’t appear to be a very attractive proposal at all,’’
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Some wordsmith should take pride in writing this::::

“We will now be working aggressively to execute liability management transactions so that we can extend our runway and continue executing on our transformation strategy,’’ Sears said in a Tuesday internal message to employees seen by Bloomberg. “At the same time, we’ll continue to move forward with our other planned liquidity and cost measures.’’