Tuesday, March 6, 2018

COURT ORDERS INVESTIGATION OF SEARS $3BILLION PAYOUT

  Superior Court has appointed a litigation investigator to review $3 billion in payments made to Sears Canada shareholders, while the company's pension fund had a nearly $300 million shortfall.
   The court has ordered litigation investigator Lax O'Sullivan Lisus Gottlieb LLP to look into the claims and report to a committee of creditors with recommendations about litigation to be pursued.
   Sears pensioners requested the investigator's appointment in hopes of recouping some of the money they say has been missing since the company filed for bankruptcy last year.

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