Lampert Shouldn’t Keep Sears Mall of America Lease, Judge Rules

A federal judge sides with Mall of America and overturned a bankruptcy court’s decision to award a high-profile lease to Eddie Lampert’s Transform Holdco LLC after he bought the assets of bankrupt Sears Holdings Corp.

• Chief Judge Colleen McMahon of the U.S. Southern District of New York says evidence doesn’t support Judge Robert Drain’s decision to award the lease to Transform
• Mall of America had appealed, arguing that parts of the bankruptcy code that protect mall owners and tenants prohibits assignment to Transform; a tenant must demonstrate it’s not at risk of near-term bankruptcy
• Drain had said a ...