What does Asset Stripping mean?
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Imagine your parents are getting a divorce and before the divorce happens your dad takes all the money out of the bank, changes the cars and the house into his name and tells your mom he will help to pay for any outstanding bills. But during the divorce proceedings your father says that he will pay for some things but needs to use the joint bank account (the one he cleaned out) to pay for some bills until he can get back on his feet.
Now imagine that after the divorce and the papers are signed your mother (SHC) finds out that your father (Eddie and Transformco) has cleaned out the bank accounts, transfered everything into his name and has sold all the family heirlooms to a company that he owns.
That is what Eddie did to Sears.
Taking assets that you're not entitled to take. A fancy term for old fashioned STEALING.
It means Eddie is ripping the copper wire from the walls of the stores he hasn't pawned off yet.
Google it, stewwpid
It means your young, pretty assets were on a pole stripping for money! DUH!
It's a process of illegally siphoning assets from an entity prior it goes into a bankruptcy. It's kind of the thing that EL di a while ago.