Are they on this board? They refuse to go to arbitration and want their day in court. As we all know, working for Eddie and being sick of his b---s--- isn't exactly an unheard of phenomenon
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The employees were sent a form to fill out to get put into the pool of people who are suing SHC. I got a call from a law firm who is trying to get all the employees together (class action) to sue SHC and the new company for labor law violations, retirement, back pay, unfair labor practices and work conditions and dangerous work conditions and a whole lot of other things. This is not over yet
You still don't understand. New Sears isn't suing Old Sears. Old Sears is suing New Sears.
Suing old sears will amount to zero.
Even if Eddie has to give the $57 million back (he’s just being cheap because he’s petty over trivial stuff) the lawyers are going to eat it right up. My guess is by the time that is resolved Eddie’s $57 million will go right into lawyers’ pockets if he has to repay it. He doesn’t really care because he’s got a much smaller legal team of like 5 lawyers for this bankruptcy case. So while old Sears and the creditors probably have 30 lawyers working on this they’ll burn through it in no time, but if Eddie manages to keep it he didn’t spend much in his effort.
He probably has some sort of good argument for it or he wouldn’t be doing it. It doesn’t matter since old sears was completely run dry because they had a small DIP fund to begin with, the sale took a month longer than necessary and all the legal fees are expensive.
No, it's actually old Sears
its not employees, its banks and creditors who were promised the 57 million to pay legal and admin fees from bankruptcy, but they let Eddie have the cash management system and now he wont give up the dough. New Sears can probably burn thru cash just as fast as old Sears.