NEW YORK — Kmart Corp. has agreed to share some 66 sets of documentation with bondholders representing $400 million in notes and claims.
According to a published report, the documents, which contain detailed information about certain credit agreements and guarantees, will be provided to a group of bondholders on a confidential basis. Also included in the information exchange is paperwork regarding transfers of intellectual property. The four bondholders requesting the information in a bankruptcy filing last month — Appaloosa Management, Merced Partners, Tamarack International and Third Avenue Fund — are also seeking information regarding why the Kmart symbol, valued at more than $4 billion in 1991, was transferred to Kmart of Michigan for $10 in October 2001. The bondholders and Kmart are still bickering over procedures and scope regarding the depositions of Kmart officials.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"