Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

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

Feb. 27, 2020, 11:42 PM

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 ...