Lampert Loses Key Ruling on $718 Million Claim Against Old Sears

Eddie Lampert suffered a setback in bankruptcy court this week when a judge ruled that some of his claims against the bankrupt estate of Sears Holdings Corp. wouldn’t get priority above other claims.

The ruling probably means Lampert’s ESL Investments Inc. will get a lot less than the $718 million he’s demanding from “Old Sears,” the legal shell that was left over after the chain’s 2018 bankruptcy to pay off remaining claims.

“It was a big win for the debtor and it’s a big loss for ESL,” said Eric Snyder, chairman of the bankruptcy practice at Wilk Auslander LLP, which ...