Just as few in the retail world are surprised to see Sears in bankruptcy court, few will likely be surprised to learn that Lampert’s complicated financial relationship with Sears could be the subject of litigation in Chapter 11.
It’s worth noting that discovery and litigation over fraudulent transfers, and other financial and management claims, is one the primary points of leverage that unsecured creditors have in bankruptcy, as they lack claims on assets to secure their debt. (As just one recent instance, Nine West creditors are pursuing such litigation over the fashion retailer’s leveraged buyout by private equity firm Sycamore Partners.)
