Service.com LLC entered into an asset purchase agreement to acquire Home Improvement Business of Sears Holdings Corporation (OTCPK:SHLD.Q) for approximately $60 million on November 2, 2018. On November 5, 2018, a $6 million deposit escrow amount was deposited with the escrow agent on behalf of Service.com. The agreement is subject to higher or better offers. The auction process and final agreement will be subject to the approval of the Court. In addition, completion of the transaction remains subject to customary closing conditions and regulatory approvals. The transaction was approved by the Sears Holdings Corporation's Restructuring Committee. Sears Holdings Corporation has sought court approval of a "stalking horse" asset purchase agreement with Service.com LLC to acquire the Sears Home Improvement business. Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York approved the deal on December 21, 2018. The transaction is anticipated to be completed by early January 2019. Ray Schrock, Garrett A. Fail, Jacqueline Marcus and Sunny Singh of Weil,Annemargaret Connolly, Michael A. Epstein, Douglas R. Urquhart, Randi W. Singer, Ellen J. Odoner,Kenneth H. Heitner, W. Michael Bond, Garrett Fail, Brianne L. Kucerik, Gavin Westerman and Paul J. Wessel of Weil, Gotshal & Manges LLP acted as legal advisors and Mohsin Y. Meghji, Colin M. Adams and Brian Griffith of M-III Partners LLC and Brandon Aebersold and Levi Quaintance of Lazard Frères & Co. LLC acted as financial advisors for Sears Holdings Corporation (OTCPK:SHLD.Q). Aaron Rigby and David E. Kronenberg of Sidley Austin LLP acted as legal advisors and FINNEA Group, LLC acted as financial advisor for Service.com. Ira S. Dizengoff, Philip C. Dublin, Abid Qureshi, Allison P. Miller and Sara L. Brauner of Akin Gump Strauss Hauer & Feld LLP are counsel to the official committee of unsecured creditors. Service.com LLC cancelled the acquisition of Home Improvement Business of Sears Holdings Corporation (OTCPK:SHLD.Q) on January 18, 2019. The Sears Holdings Corporation and certain of its subsidiaries sought to recover the Deposit Escrow Amount under the SHIP APA, and entered into negotiations with Service.com to resolve the parties' dispute over their respective entitlements to the deposit escrow amount. On February 22, 2019, Sears Holdings Corporation and certain of its subsidiaries filed a Stipulation, Agreement and Order Approving Settlement of Dispute with Service.com (the "SHIP Stipulation"). The SHIP Stipulation was approved by the Bankruptcy Court on March 4, 2019. In accordance with the SHIP Stipulation, $4.75 million of the Deposit Escrow Amount was deposited into the Sears Holdings Corporation and certain of its subsidiaries' Wind Down Account on March 7, 2019.