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SHLDQ - Sears Amended Their Reorganization Plan-What's Changed?
Sears Holdings Corporation
Sears Holdings (OTCPK:OTCPK:SHLDQ) filed an amended reorganization plan and disclosure statement (use docket 3896 to see the changes) early May 16. While there are a few minor changes, the biggest changes are how the 2nd-lien 2018 notes are treated and they are consolidating all their assets by canceling intercompany claims and interests. The liquidation analysis also raised the projected total assets for distribution to $334 million from $314 million. Both shareholders and holders of unsecured notes are still expected to get no recovery nor any payment for releases under the amended plan.