Dow Jones reports that a bankruptcy judge will consider whether Kmart can pay two investors in its reorganization plan a $10 million "commitment fee" and up to $5 million in related attorneys fees.
The two investors have pledged that they will invest up to $353 million in Kmart in exchange for stock in the company.
Kmart filed for bankruptcy in January 2001, and it hopes to emerge from bankruptcy protection by the end of April.
The two investors have pledged that they will invest up to $353 million in Kmart in exchange for stock in the company.
Kmart filed for bankruptcy in January 2001, and it hopes to emerge from bankruptcy protection by the end of April.
- KC's View:
- We should have paid more attention in accounting class. Actually, we probably should have taken an accounting class. Who knew we'd spend so much of our time trying to understand the intricacies of bankruptcy protection?
