Eddie’s double game

If all that has happened wasn’t proof enough, think that the investigation against Eddie Lampert will paint a more clear picture of his true motives. The sad thing in all this is the fact that Lampert and his hedge fund will have an active role in the BK process, whether we like it or not, and if it is formally proven in court that he was working against the company, I’m afraid that little can be done for Sears at that point.

https://www.usatoday.com/story/money/2018/11/06/sears-bankruptcy-eddie-lampert/1903950002/

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Eddie is covered by all his lawyers. You think he isn't? Right.

If by "little can be done for Sears" you mean Escaping Chapter 7; you are right. But IF there is liability; whether fiduciary; civil; or criminal; there can be actions that can assist creditors that could include:

.. civil liabilities paid via D ESL; the hedge fund; ESL; and ESL / SHLD related parties; and even against entities created by ESL (SRG; SHOS' Sears Canada etc.).

Of course there would be nothing to clawback from Sears Canada... and some entities; but IF they did have value and were found in non-compliance they could be subject to clawbacks.

BUT creditors; not shareholders; would benefit EXCEPT through formal lawsuit claims against the D individuals (ESL / Directors); or against the derivative companies (SRG) formed.

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Eddie’s double game

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