>1/ buy tonnes of stock at a discount via his "arms length" hedge fund
Lampert owns around 30% of outstanding Sears stock and ESL holds around 20%. He bought all that at far above current prices, paying hundreds of millions over the years to buy the stock. Now he's going to take a significant haircut in bankruptcy court, so much so that he's trying to throw another $4B into this hole to save his investment.
Sears Holdings has a market cap of $23M today. He's already lost hundreds of millions on this.
Lampert owns around 30% of outstanding Sears stock and ESL holds around 20%. He bought all that at far above current prices, paying hundreds of millions over the years to buy the stock. Now he's going to take a significant haircut in bankruptcy court, so much so that he's trying to throw another $4B into this hole to save his investment.
Sears Holdings has a market cap of $23M today. He's already lost hundreds of millions on this.