Eddie Lampert’s $4.6 billion bid to salvage what’s left of bankrupt Sears Holdings Corp. was pitched by the hedge fund manager as a way to preserve tens of thousands of jobs. To some others in the industry, it’s also seen as a way to sweep a decade of potential problems under the rug.
The bid, if successful, would come with an important condition: a full release from liability over controversial deals his fund made before the 125-year-old retailer filed for Chapter 11 bankruptcy. . . . more