MIAMI, FL – January 14, 2019 – Steven J. Solomon, managing director of GrayRobinson’s Miami law firm office was quoted in Business Insider article "Sears and Kmart Employees Aren’t Necessarily Out of Luck When it Comes to Receiving severance – But it all Depends on Timing." Steven Solomon discusses Sears’ liquidation process, expanding on how severances are handled differently in bankruptcy v. liquidation and what Sears / Kmart employees can expect out of this process.
In the case of laid-off Sears and Kmart employees who are now designated as creditors, Solomon states that these workers must file a proof of claim for the case in order to receive any money from the case. He also believes the group of employees who lost their jobs after Sears filed might be better off, "Post-bankruptcy terminations are typically now governed by court order," Solomon details. Read the full article here.