>If they go bankrupt the pension obligations disappear. Not that simple. The PBGC (https://en.wikipedia.org/wiki/Pension_Benefit_Guaranty_Corporation https://e

>If they go bankrupt the pension obligations disappear. Not that simple. The PBGC (https://en.wikipedia.org/wiki/Pension_Benefit_Guaranty_Corporation https://en.wikipedia.org/wiki/Pension_Benefit_Guaranty_Corpo...) has had a lien on several of Sear's properties for a few years now, to cover Sears's unfunded pension liabilities. Here's an example: https://www.reuters.com/article/us-sears-pensions/in-kenmore-sale-sears-pension-liabilities-come-back-to-bite-idUSKCN1L70DI https://www.reuters.com/article/us-sears-pensions/in-kenmore... Now a worrisome note: the PBCG falls under the control of the treasury secretary, Steve Mnuchin, who just happened to be Lampert's college roommate. I can't see any evidence of wrongdoing here yet, but it's something to keep an eye on. The whole deal with Lampert and Sears is a tangled mess that might make for interesting reading when more of this ends up in a courtroom.