A court-appointed monitor for the Sears Canada bankruptcy process says it opposes a proposal that would effectively allocate all the failed retailer’s remaining assets to the company’s underfunded pensions. Sears Canada had only about $158.3 million on hand plus a few properties that remain to be sold. However, Sears Canada had only about $158.3 million on hand plus a few properties that remain to be sold — meaning none of the company’s other unsecured creditors would receive anything if the pensioners get first priority. If the pension motion fails, the remaining assets will be divided up proportionately among all classes of unsecured creditors. Read more: ‘I’m sorry to see you go’: Shoppers bid farewell to Sears as the doors close for goodRead more about:

Source: thestar September 11, 2018 19:30 UTC