I know that when bankruptcy is filed the doors will be closed and all that, but I’m curious about the ring fence properties.. who would own them?
Who wd pay the property taxes
Would the PBGC (the government) made the deal with sears holding would the ring fence properties that had not yet been closed now belong to the PBCG?
Sears holdings has that huge pension payment coming due I think by second quarter, I think that was also part of that ring fence deal
@1nvp - "Question is- how swift is the PBGC ?" Probably just as swift as the IRS and the various other tax collecting agencies that take a bite out of your earnings!
I'm sure there's a big list of items to be given to the pension in case of default .
Booked at billions . Key word booked.
Question is- how swift is the PBGC ?
How well funded is the pension? Because the way things are now SHLD couldn't afford to give the pension fund five bucks for gas money.
Following the $407 million contribution, Sears will be relieved of its obligation to make further pension contributions for roughly two years, with the exception of a $20 million supplemental pension payment in the second quarter of 2018, the company said Wednesday in a news release.
Didn't the company and PBGC agree to waive a payment for two years into the fund? Wasn't that part of the debt restructure that took place earlier this year where bond settlement and debt payments were pushed back?
I mean, eventually it will all need settled, the coffin may be picked out , but the hole isn't dug yet.