Former Sears holding company sues ex-CEO, Mnuchin and others over 'asset stripping'
BY JOHN BOWDEN - 04/18/19 09:37 PM EDT The holding company that formerly owned Kmart and Sears sued Treasury Secretary Steven Mnuchin and other former board members of ESL Investments as well as the company's ex-CEO, Eddie Lampert, accusing them of illegally stripping Sears of assets ahead of the company's bankruptcy filing.
USA Today reported Thursday that Sears Holdings filed a lawsuit targeting roughly two dozen figures including Lampert, Mnuchin, and others involved with ESL Investments, who the lawsuit alleges were involved in a scheme to "hinder, delay and defraud creditors and/or occurred when the Company was insolvent and had insufficient capital to continue its operations and to repay its billions of dollars in debt."
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https://thehill.com/policy/finance/439664-former-sears-holding-company-sues-ex-ceo-mnuchin-and-others-over-asset
