For months, many pundits have speculated that Sears Holdings (NASDAQ: SHLD) would file for bankruptcy in July — or shortly thereafter. That’s because two years ago this month, Sears spun off a large portion of its valuable real estate assets as Seritage Growth Properties, an independent REIT. This transaction could have potentially been reversed as a “fraudulent conveyance” if Sears had filed for bankruptcy within two years of the spinoff.