Judge Gives Kmart Power to Subpoena
Associated Press
A federal judge granted Kmart Corp. the power to issue subpoenas as it investigates whether management practices and policies led to the retailer’s bankruptcy filing.
Kmart also received permission to revise the terms of a $2-billion loan package so that it could lose up to four times more money before lenders find the retailer in default.
Shares of Kmart were unchanged at 65 cents on the NYSE.
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