This evening we filed an Objection to the Debtor's Financing based on the lack of certainty that 503(b)(9) claims will be paid in full. We estimate that there may be $350 million in administrative creditors which would exceed the amount of funds available to pay these claims. We are pressing Sears to provide information to creditors or to establish a process to deal with administrative creditors. Many vendors cannot wait to be paid. That is why you need an someone advocating on your behalf. We are working on getting financing in place for our clients on 503(b)(9) claims. Should you desire individual representation, please feel free to contact me at joe@saracheklawfirm.com.
Best regards,
Joseph E. Sarachek
646 517-5420
101 Park Avenue, 27th Floor
New York, NY. 10178
646-517-5420
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