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Eddie Lampert’s Hedge Fund Allegedly Took $57.5m from Sears

(New York Post) Eddie Lampert took $57.5 million from Sears — and the retailer wants its money back. The secretive billionaire’s hedge fund ESL Investments, which led the iconic retail chain into Chapter 11 last fall, helped itself to tens of millions of dollars from the company’s bank accounts in the days before it closed a $5.2 billion deal to create a new, downsized Sears chain with 425 stores, according to court documents filed this week. The estate of the old Sears — whose legal bills from white-shoe law firm Weil Gotshal are piling up by the millions every month — is demanding that the cash be returned immediately, lest it get forced into administrative insolvency, the documents show.

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