Nothing can change the shape of things to come
Max Frost and the Troopers!
Classic Rock Baby!!
Remember, it don't have to be good to be classic
8 replies (most recent on top)
Qualifying is just a procedural step. Expect just about everyone to be qualified.
There's a new sun
Risin' up angry in the sky
And there's a new voice
Sayin': "we're not afraid to die!"
Let the old world make believe
It's blind and deaf and dumb, but
Nothing can change the shape of things to come
There are changes
Lyin' ahead in every road
And there are new thoughts
Ready and waiting to explode
When tomorrow is today
The bells may toll for some, but
Nothing can change the shape of things to come
The future's comin' in, now
Sweet and strong
Ain't no-one gonna hold it back for long
There are new dreams
Crowdin' out old realities
There's revolution
Sweepin' in like a fresh new breeze
Let the old world make believe
It's blind and deaf and dumb, but
Nothing can change the shape of things
Nothing can change the shape of things
Nothing can change the shape of things
Nothing can change the shape of things to come
@WXglWDW-ize There's a new sun
risin' up angry in the sky
Nothing can change the shape of things to come
Forgot to mention; the DIP; remaining administrative fees; advisor fees; lawyer fees; taxes; and prime clerk fees all come ahead of distributions to secured creditors before any unsecured creditors; including BNY Mellon receive a dime.
May also be worth mentioning ESLs lawyers had been providing services to close affiliates (ie: JPP); but recently informed them they could no longer provide their services to them... because their interests are no longer aligned with those of ESL!
Most likely outcome is that his bid is affirmed; but with some conditions; and scheduled hearings for objections. He would get the assets free of old debt; but encumbered by the new debt added to help provide a token payment to a tiny handful of creditors. (Probably just one creditor: BNYM).
Shares in the old (zombie) corporation (shldq) would probably continue to be traded for 3-4 months before being cancelled.
Unless conditions are placed on his purchase he would be free to do anything he wants with them; and may not be under any obligation to use any as retail outlets. He could use any trademarks purchased to charge licensing fees.
All remaining assets not purchased; and fully owned by shldq; would be liquidated. That could be either under Chapter 11 or Chapter 7; but in either case shldq would ultimately be dissolved; because it is insolvent.
personally i think Sears will qualify all the bids and the creditors will immediately object to Eddie's b---s--- bid.
Nothing big until next week.