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Former sears holding company deletes ex-CEO, Mnuchin and others over asset stripping & # 39;



Holding company formerly owned by Kmart and Sears, sued the state secretary Steven Mnuchin Steven Terner MnuchinFormer Sears holding company sues ex-CEO, Mnuchin and others over asset stripping & # 39; on the money: Inside the Mueller report | Cain undeterred in push for Fed seat | Analysis finds modest increase for the economy from new NAFTA | White House says deal will give auto sector B boost Hills morning report ̵

1; Category 5 Mueller storm to hit today more and other former board members of ESL Investments, as well as the company's former CEO Eddie Lampert, accusing them of illegal US day reported on Thursday that Sears Holdings initiated a lawsuit aimed at about two dozen characters, including Lampert, Mnuchin, and others involved in ESL Investments, which the Defendant allegedly involved in a scheme to "prevent, delay and deprive creditors and / or occurred when the company was" Insolvent and had insufficient capital to continue their business and to repay billions of dollars in debt. "

"Sears would have had billions of dollars more to pay its third-party creditors today, and would not have sustained the amount of disruption, expense and loss on the job as a result of the recent bankruptcy report," Lampert had not taken action by ESL Investments said in a statement to USA Today that the "quarreling" lawsuit calls the charges found in "unfounded claims and imaginative claims" that "are misleading or just plain wrong."

"We are confident that the processes we followed for each of these transactions, is unimplementable, "said ESL, according to USA Today.

Sears filed for Chapter 11 bankruptcy protection in October after knocking down thousands of stores and cutting hundreds of thousands of employees across the country.

A spokesman for the Treasury Department did not immediately send a request for comment on lawsuit Thursday night.


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