Sears bankruptcy boss defends proposed sale to controversial ex-CEO Eddie Lampert
Judge Robert Drain, who is presiding over the hearing, will rule after its conclusion on whether Sears can be sold. If he agrees, the deal could be finalized Friday. If he rejects the deal, Sears is likely to liquidate. The creditors have accused Lampert and ESL of orchestrating a "scheme" over years to "steal" Sears assets. Lampert and ESL have defended their role, saying they devoted billions in loans to Sears and helped preserve jobs. Following Meghji's testimony, a back-and-forth ensued between Joseph Sorkin, representing the creditors, ...
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