Sears' owner wants out of paying $43 million to former employees

(CNN) – The man who bought Sears is trying to avoid paying the $43 million in severance that he promised to employees who lost their jobs over the past year.

Eddie Lampert was formerly the chairman and CEO of Sears holdings and purchased what was left of the bankrupt company in February.

His attorneys argue Sears has fallen short on its obligations to Lampert, and therefore he doesn’t have to make the severance payments.

Sears Holdings disputed that assertion in a motion filed in court Tuesday.