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  1. #11
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    Oct 2016
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    Default Re: Sign on Bonus - Sears Bankruptcy - New Company Acquires - Resignation - Return Bo

    Not the best cite https://en.wikipedia.org/wiki/TransformCo

    but as you haven't posted any cites I'll go with it.

  2. #12
    Join Date
    Nov 2013
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    6,663

    Default Re: Sign on Bonus - Sears Bankruptcy - New Company Acquires - Resignation - Return Bo

    In the same source it says this:

    In February 2019, it was announced that a U.S. bankruptcy judge approved the sale of the most lucrative part of Sears Holdings to Edward Lampert allowing the surviving part of the company that operates both Sears and Kmart to remain in business at the expense of suppliers, landlords, employees, pensioners, the U.S. government, and other creditors. Kmart would have 202 locations after the sale is completed
    Also:

    In February 2019, the company finalized the acquisition of 425 stores (223 Sears and 202 Kmart) from Sears Holdings for $5.2 billion.
    The were purchased not liquidated. OP owes the money.

  3. #13
    Join Date
    Oct 2016
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    Default Re: Sign on Bonus - Sears Bankruptcy - New Company Acquires - Resignation - Return Bo

    Edward Lampert allowing the surviving part of the company that operates both Sears and Kmart to remain in business at the expense of suppliers, landlords, employees, pensioners, the U.S. government, and other creditors.
    "...at the expense of a bunch of creditors" sure sounds like no liabilities when with the sale.

  4. #14
    Join Date
    Nov 2013
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    6,663

    Default Re: Sign on Bonus - Sears Bankruptcy - New Company Acquires - Resignation - Return Bo

    That doesn't mean that they can't enforce a contract for a signing bonus. Besides, that signing contract is not a liability. It is an asset in this case.

  5. #15
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    Oct 2016
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    3,568

    Default Re: Sign on Bonus - Sears Bankruptcy - New Company Acquires - Resignation - Return Bo

    Quote Quoting budwad
    View Post
    That doesn't mean that they can't enforce a contract for a signing bonus. Besides, that signing contract is not a liability. It is an asset in this case.
    Oh budwad, they didn't even by all of the assets. And I certainly am willing to bet they didn't buy one that could turn into a liability at the drop of a hat.

  6. #16
    Join Date
    Nov 2013
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    6,663

    Default Re: Sign on Bonus - Sears Bankruptcy - New Company Acquires - Resignation - Return Bo

    Now you are making stuff up. I said what I had to say. Done.

  7. #17
    Join Date
    Oct 2016
    Posts
    3,568

    Default Re: Sign on Bonus - Sears Bankruptcy - New Company Acquires - Resignation - Return Bo

    Quote Quoting budwad
    View Post
    Now you are making stuff up. I said what I had to say. Done.
    And what am I making up? You completely misread the site you posted.

  8. #18
    Join Date
    Oct 2006
    Posts
    15,932

    Default Re: Sign on Bonus - Sears Bankruptcy - New Company Acquires - Resignation - Return Bo

    Quote Quoting budwad
    View Post
    In the same source it says this:



    Also:



    The were purchased not liquidated. OP owes the money.
    The entire company was NOT purchased. Only some of the assets were purchased. They did not purchase liabilities. The question is whether or not they purchased employee contracts of the specific employees to whom they offered jobs, and whether or not those contracts were even an asset that could be purchased.

    Seriously Bud, you don't know enough about the buying and selling of large corporate businesses that are in bankruptcy to understand the terminology that you are reading if you believe that what you quoted indicated that they bought the whole company.

  9. #19
    Join Date
    Jul 2018
    Posts
    1,974

    Default Re: Sign on Bonus - Sears Bankruptcy - New Company Acquires - Resignation - Return Bo

    Quote Quoting doucar
    View Post
    Because corporations must be represented by an attorney and attorneys cannot appear in small claims court.
    That's not correct in the OP's state (and, in fact, most states allow attorneys in small claims court).

  10. #20
    Join Date
    Nov 2013
    Posts
    6,663

    Default Re: Sign on Bonus - Sears Bankruptcy - New Company Acquires - Resignation - Return Bo

    Quote Quoting llworking
    View Post
    The entire company was NOT purchased. Only some of the assets were purchased. They did not purchase liabilities. The question is whether or not they purchased employee contracts of the specific employees to whom they offered jobs, and whether or not those contracts were even an asset that could be purchased.

    Seriously Bud, you don't know enough about the buying and selling of large corporate businesses that are in bankruptcy to understand the terminology that you are reading if you believe that what you quoted indicated that they bought the whole company.
    Complete and total diarrhea of the mouth. Now you, the account, is an expert in corporate actuations in bankruptcy law. Why don't you explain the terminology that you believe I don't understand.

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