The chief restructuring officer in charge of the Sears bankruptcy said Wednesday that the company's proposed sale to its controversial chairman and ex-CEO would be a better deal for creditors, workers and vendors than liquidation, USA Today reported. Mohsin Meghji, who was appointed as the Sears restructuring chief when Chairman Eddie Lampert resigned as CEO in October, defended the retailer's plan to sell itself in shrunken form to Lampert's ESL Investments. Meghji testified in bankruptcy court on the second day of a hearing to decide the retailer's fate that he had analyzed the difference between a deal to sell Sears to ESL and an alternative move to liquidate the company. A committee of unsecured creditors that is seeking the liquidation of Sears disagreed with Meghji's conclusion, questioning ESL's intentions and the structuring of the deal, saying it appeared to primarily benefit Lampert.
