SHLDQ Sears Holdings Corp

$SHLDQ Some food for thoughts, years later : 1/ the name Transformco and Transformco properties are both in the air, which implies the transformation is not complete yet, but ongoing. Lampert's goal from day one was always to transform the company not to make it profitable with the same business model. Asset light was the goal. 2/ the ticker for the stock still appears on brokerage accounts, labeled as a reorg. 3/ Tax experts have confirmed that this is very likely a tax reorganization as everything has been written as a de facto 368 tax G reorg. Almost everybody uses the traditional lenses of regular bankruptcy law to assess the case. 4/ Lampert hasn't made a public announcement, saying that it was a giant failure. Remember what he said : 'look to left not to the right' as well as 'everything is happening in plain sight and once we turn a profit people will be saying how did I miss this? Nobody can anticipate what will happen and when, but for now the story is not over.

$SHLDQ In a Chapter 11 liquidation or a § 363 sale followed by a wind-down, any distribution to residual claimants (which would include historic shareholders only if all creditors are paid in full) is structurally deferred until the estate is fully administered and dissolved.

$SHLDQ "Distribution Requirement" in Section 1.1 of the Sears APA (Doc 1730). It explicitly mandates the timeline and order of operations: "‘Distribution Requirement’ shall mean the requirement that each Seller... (iii) shall dissolve no later than the end of the third taxable year ending after the Closing Date, and (iv) during the period between the Closing Date and its dissolution, shall limit its activities to those which are merely for the purpose of liquidating its assets... winding up its affairs, resolving and paying its debts, and distributing any remaining assets..." The estate cannot distribute residual value to the bottom of the waterfall until "resolving and paying its debts" is complete.

$SHLDQ gonna hang a crooked mirror in the foyer of my mansion. Maybe some ambience lighting behind it too.

$SHLDQ Eddie just dooo it stop being weird haha the show is getting redundant and people are bored of this season hahaha