Sears, SRG, and the Economics of Fraudulent Conveyance
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Sears, SRG, and the Economics of Fraudulent Conveyance
By Edi M. Grgeta, Vice President, and Konstantin A. Danilov, Manager, Analysis Group & Christopher M. Colorado, Partner, Friedman Kaplan Seiler & Adelman LLP
In 2015, Sears sold a portion of its real estate holdings to Seritage (SRG), a newly formed real estate investment trust (REIT) owned by existing Sears shareholders, in a $2.7 billion sale-leaseback transaction. The real estate holdings consisted of existing Sears retail locations, and as part...
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Christopher M. Colorado is a partner with Friedman Kaplan Seiler & Adelman in New York City. His practice focuses on complex commercial litigation with particular emphasis on matters related to financial products, distressed companies, and debt. He also represents companies and individuals as both plaintiffs and defendants in employment litigation matters, and defends law firms against malpractice and other claims. Colorado represents clients in both federal and state courts, including on appeal, as well as before regulatory bodies and in arbitration.
Edi M. Grgeta, PhD, CFA, is a vice president in the Chicago office of Analysis Group Inc. He has served as an expert and testified on antitrust issues and damages, managed case teams in support of academic and industry experts, and provided consulting assistance to attorneys. In finance and securities matters, Grgeta has valued businesses and assets, analyzed investment strategies, evaluated compliance with investment policies, assessed suitability of complex securities, conducted statistical sampling analyses, addressed class certification issues, and measured damages.
Konstantin A. Danilov, CFA, is a manager in the Boston office of Analysis Group Inc. He specializes in applying financial analysis to valuation and other issues in cases involving bankruptcy, financial distress, and related matters. Danilov holds a master’s degree and MBA from the Massachusetts Institute of Technology Sloan School of Management and HEC Paris. He is a member of the Editorial Board at the AIRA Journal and a member of the Investment Advisory Board at Independence Financial Partners.
