David Wander, partner at Davidoff Hutcher & Citron sat down with TheStreet to discuss all things bankruptcy.
"Well you know there are different kinds of investors. For example, there are investors who buy distressed debt. In this case there's a market for different parts of the debt, mainly the 503(b)(9) claims and there's a market for that. And every day and every week there are solicitations being made for those 503(b)(9) claims," said Wander. "Previously in the case they were offering 70 cents in the dollar. The latest I've seen is 50 cents. And that may go up when people get more of a feel as to what the total 503(b)(9) claims are. But investing in distressed assets is not for the weak of heart and it's become a big business. But there is no, right before there's a filing by that time the good deals have already been taken and how you analyze a company and its slide into bankruptcy is an art that many professionals are working on."
Not so sure about the whole Sears situation? Wander went in-depth with TheStreet about the bankruptcy and what you need to know.