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Lampert Keeps Sears’ Mall of America Lease After Court Reversal

May 12, 2020, 8:17 PM

A company run by former Sears CEO Eddie Lampert can maintain a lease assignment at Minnesota’s Mall of America after a federal district court judge in New York vacated a previous decision for lack of jurisdiction.

The reversal Monday by Chief Judge Colleen McMahon of the U.S. District Court for the Southern District of New York, which she issued “with deep regret,” hands a victory to Lampert’s Transform Holdco LLC. The company last year purchased the iconic department store chain’s assets out of bankruptcy.

With the assignment, Transform has control over the $10 annual lease for the now-shuttered three-story Sears ...