ESL Says $5.2B Ch. 11 Sale Only Way Forward For Sears

Law360 (February 1, 2019, 9:45 PM EST) -- ESL Investments Inc. urged a New York bankruptcy court Friday to reject objections by Sears Holding Corp.'s unsecured creditors committee to the proposed $5.2 billion sale of the company to ESL, saying it is a fair deal and will revive the retail giant.

Motions filed Friday by ESL and a committee of Sears board members said the unsecured creditors' claims that the deal is unfair and the reorganized Sears would be doomed are unfounded, arguing the sale process was fair and the deal will maximize the value of the estate and its legal claims and will produce a viable business in...

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