Sears Canada creditors are calling out Eddie Lampert, the erstwhile controlling shareholder of the bankrupt retailer and current chief executive of Sears Holdings, for receiving dividend payments as the Canadian business crumbled in 2017.
Late last week, a group of
pensioners served court papers in Ontario's Superior Court of Justice,
requesting the appointment of a trustee in Sears Canada's bankruptcy
proceeding who would look for more funds for those creditors.
Lampert and his
hedge fund, ESL Investments, were "major beneficiaries" of roughly $3
billion in dividend payments since 2005, the papers said.. . . more