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Originally Posted by Canehdianman
What a novel interpretation. Following that rationale, the employees have been taking money for the past hundred years as well! How devious of them!!!
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Yeah, no kidding. Here is one of many articles that are talking about it:
https://www.ctvnews.ca/business/611-...itor-1.3763710
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$611 million in Sears Canada dividend payments under review by court monitor
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Of particular interest to the monitor are a $102 million dividend payment on Dec. 31, 2012 and a $509 million dividend payment on Dec. 6, 2013.
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I'm the furthest thing from an expert on bankruptcy, but I don't see how dividends from 4-5 years ago relate the the bankruptcy today. Maybe the Board acted inappropriately given the facts they knew at the time declaring the dividends, but it was so long ago I don't see how anything like that could stick.