Sears, ESL Reach $18M Settlement Of Sale Dispute

Law360 (January 13, 2020, 4:17 PM EST) -- Sears has told a New York bankruptcy court that its buyer ESL Holdings has agreed to pay $18.3 million to resolve the last disputed issues over who owes what under ESL's $5.2 billion deal to purchase the retail chain last year.

In a motion asking the court to approve the settlement, Sears Holding Co. said Friday that the agreement will resolve the last issues in a fight over hundreds of millions of dollars in assets and liabilities that has been ongoing since shortly after ESL bought Sears' retail business. The deal guarantees that what the Sears estate has gained from past...

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