The US Bankruptcy Court approved the modified second amended joint plan of reorganization of Sears Holdings Corporation on October 15, 2019. The debtor has filed its modified second amended plan in the Court on July 9, 2019. As per the modified second amended plan, administrative expense claims, Fee claims, and Other 507(b) Priority Claims, Priority Non-Tax Claims of $2 million, DIP ABL Revolver of $188 million, Junior DIP Financing of $350 million, DIP ABL Term Loan of $112 million shall satisfied in full from proceeds of the carve out account and net proceeds of the total assets. Priority Tax Claims agrees to less favorable treatment of such claim in full and final satisfaction and shall receive payment in full in cash in an amount equal to such claim. ESL 507(b) Priority Claims shall Satisfied from, net proceeds of other causes of action not to exceed $50 million in the aggregate with any remaining ESL 507(b) Priority Claims that would have resulted from, net proceeds of other causes of action treated as general unsecured claims. Other Secured Claims agrees to different treatment, and satisfied in full from transfer of or net cash proceeds of the relevant collateral in cash. Priority Non-Tax Claims (Kmart Corp., Kmart Stores of Illinois LLC, Kmart of Washington LLC, & All other Debtors) shall satisfied in full from proceeds of the carve out account and net proceeds of the total assets. Other Secured Claims (Kmart Corp., Kmart Stores of Illinois LLC, Kmart of Washington LLC, & All other Debtors) agrees to different treatment, and satisfied in full from transfer of or net cash proceeds of the relevant collateral in cash. General Unsecured Claims (Kmart Corp., & All other Debtors) will receive payment on pro rata basis from general unsecured liquidating trust interests, in full and final satisfaction, settlement, release, and discharge. ESL Unsecured Claims (Kmart Corp., Kmart Stores of Illinois LLC, Kmart of Washington LLC, & All other Debtors) agrees to less favorable treatment, in full and final satisfaction, settlement, release, and discharge of an allowed ESL unsecured claim, each such holder thereof shall receive its pro rata share of the general unsecured liquidating trust interests. PBGC Unsecured Claims (Kmart Corp., Kmart Stores of Illinois LLC, Kmart of Washington LLC, & All other Debtors) will receive payment on pro rata basis from general unsecured liquidating trust interests, in full and final satisfaction, settlement, release, and discharge. General Unsecured Claims (other than Guarantee Claims) (Kmart Stores of Illinois LLC & Kmart of Washington LLC) will receive payment on pro rata basis from general unsecured liquidating trust interests, in full and final satisfaction, settlement, release, and discharge. Guarantee Claims (Kmart Stores of Illinois LLC & Kmart of Washington LLC) will receive payment on pro rata basis from general unsecured liquidating trust interests, and agrees to less favorable treatment, in full and final satisfaction, settlement, release, and discharge of an Allowed Guarantee Claim. General Unsecured Claims of $3.940 million and PBGC Unsecured Claims of $800 million, will receive payment on pro rata basis from general unsecured liquidating trust interests, in full and final satisfaction, settlement, release, and discharge. ESL Unsecured Claims of $1,761 million agrees to less favorable treatment, in full and final satisfaction, settlement, release, and discharge of an allowed ESL unsecured claim, each such holder thereof shall receive its pro rata share of the general unsecured liquidating trust interests. Subordinated Securities Claims shall not receive or retain any property under the Plan on account of such Subordinated Securities Claims. Intercompany Claims, Intercompany Interests and Existing SHC Equity Interests shall be cancelled. The plan shall be funded through debtor’s ongoing operation and cash on hand, cash from net proceeds of total assets, cash from the wind down account.