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~ ADDED; Could Youzzz' Guys That Don't Own CT's ? ... Get A Room Some where's Else ? ~
Many Of "Us" Are Actual Owners of the LBHI CT's, ... and Don't Care About ... ? whatever it is ? that's being continued here ? ...
just sayin'
AZ
~ Yes, jwnoble, LBHI Has Been Following The Rules' Referenced in the SEC's Amendment ~
Added: ... Trust Information' ... not specific to LBHI ... however a Trust can use taxing information as of years end (12/31/2022) and not report it until 65 days into any given new year taxing period' ... 2023 = ... Jan = 31 days, ... Feb = 28 days and then March 6 ... would be the 65 days' ... It would be nice if LBHI "Implemented" the Plan'
Take it easy ... :)
AZ
~ So, ... I've Just Posted The "Press Release" Dated September 16th, 2020' ... Now ?, Here Is SEC's ... The Final Rule' ... ~
https://www.sec.gov/rules/final/2020/33-10842.pdf
DATES: Effective date: [INSERT DATE 60 DAYS AFTER DATE OF PUBLICATION IN
THE FEDERAL REGISTER]. Compliance date: The compliance dates are discussed in Part
II.P of this release
The Final Rule ... ? ... is also dated ... Dated: September 16, 2020
"The SEC's amendments to Rule 15c2-11 became effective on September 28, 2021"
sorry guys', I made a typo in the first post, ... it should be ? ... 2021' not 2011
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170961017
just sayin'
AZ
~ And ? ... Just A Few More LBHI "Capital Trust" Nuggets' (Golden Nuggets) ~
Direct Information from ONE' of the US Brokers Where I Actually "Hold" LBHI CT's ... I hold CT's with TWO Brokers' ... BOTH are US Brokers' ... (that's a subliminal message, for the out-of-towners')
The LBHI CT's Are Listed as "Fixed Income Bonds' ... they are Also listed as Cumulative and Convertible' ... as referred to a "Preferred Security'
just sayin' :) ... $$$$$$$$$$$$$$$$$$$$$
AZ
~ Some LBHI CT DD', (Cowboy Style) The CT's, The Expert Market (OTC), and amendments to SEC Rule 15c2-11 ~
... YES' I Own all 4 of the CT's, However TooGood Is Correct, It Doesn't Matter which one is owned or whether a person chooses to own all 4 ...
First Quoting ... "The SEC's amendments to Rule 15c2-11 became effective on September 28, 2011"
And, ... SEC Rule 15c2-11
From The Fact Sheet'
* "Providing a time-limited window of 18 months in which broker-dealers may quote the securities of "shell companies."
https://www.sec.gov/news/press-release/2020-212#:~:text=Rule%2015c2-11%20%28the%20%22Rule%22%29%20governs%20the%20publication%20or,basic%20information%20about%20the%20issuer%20of%20the%20security.
Now, there's not a lot of text to read, however at minimum an OWNER of the LBHI CT's should ?, read the Fact Sheet and ... "what's next" ... at the very bottom'
(and' ?, those that don't own ? can go away and get a cup of coffee' ... the actual owners of the CT's ? don't care what a non-owner, or sell-out, has to say' ... LOL' and duh, duh, and duh', ... for selling' these gold mines')
just sayin' :)
AZ
~ WMB Was Seized, and WM Inc. Filed for Reorganization' ... Now ? Years Later ?, WMIH is NasDaq Trading as COOP' ~
initially' ... rosssssie' kept screwing up and ended up losing his position at weil' ... duh' ...
the first time was his attempt to include the functioning subs' in the Washington Mutual Inc.'s Holding Company's BK, early in 2008' ... Denied by Judge Mary' (Goldstein took a powder)
the second time was his inability to STOP' Sussman' ... Judge Mary again ...
the third time was when he' tried to segregate the participants in the hybrid' class, to only include an elite group of chosen' ... ultimately questioned by the Property Trustee' ? ... and Judge Mary agreed with the property / indentured trustee ... rosssssie', denied again ...
Plan 7' was implemented' 03/19/2012 ... KKR came on board 2014', ... and Gallagher as the WMIH CEO' .. took action beginning in "Early" 2018' ...
at the end of 2017' WMIH CEO Gallagher, found himself as the CEO of WMIH, a "Holding Company", with an Insurance Sub (WMMRC) in Run-Off ...
all that WMIH needed, was a servicing mechanism' ... enter NationStar and its subs', acquired in July 2018 with KKR's assistance' ...
NMH continuing as the surviving corporation and a wholly-owned subsidiary of WMIH.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170950768
(Not an opinion, ... All Of This Happened')
just sayin :)
AZ
~ Yeppers' ... It's RIGHT F-nnnnn' THERE' ? ... and Has Been' Available, For Years ~
common knowledge' ... pun intended' ... original p & k' preferred were handled by a sub', we'll see
NMH continuing as the surviving corporation and a wholly-owned subsidiary of WMIH.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170950721
https://investors.mrcoopergroup.com/CorporateProfile/default.aspx
https://s1.q4cdn.com/275823140/files/doc_financials/2022/q3/e86a27ab-c905-4133-8b97-dc06aec918fd.pdf
... How About These Links' ? ... huh ? ... there was way' too much to walk away from' ...
just sayin' :) ... $$$$$$
AZ
~ Gallagher, KKR', and Friends', Knew Just What They Were Doing' early' 2018 and Forward ~
I own a lot of "everything" WaMu ... Released WMI Commons, uq's and, in my opinion ? still financially tentative p's and k's (managed by a sub'), ... a lot of WMB Notes', and WMIH currently on the NasDaq as "COOP"
WMIH and its Subsidiary's ... ? .... the Horses Mouth' ... https://investors.mrcoopergroup.com/CorporateProfile/default.aspx
https://s1.q4cdn.com/275823140/files/doc_financials/2022/q3/e86a27ab-c905-4133-8b97-dc06aec918fd.pdf
(ii) at any time upon or after the consummation of the Merger, (a) less than 100% of Seller’s equity securities are owned, directly or indirectly, by NMH, (b) less than 100% of NMH’s equity securities are owned, directly or indirectly by WMIH, (c) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act, but excluding any employee benefit plan of such person and its Subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan), becomes the “beneficial owner” (as defined in Rules 13(d)-3 and 13(d)-5 under such Act), of more than the greater of (x) 35% of the then-outstanding voting power of WMIH’s voting equity interests, and (y) the percentage of the then outstanding voting power of WMIH’s voting equity interests owned, in the aggregate, directly or indirectly, beneficially and of record, by the New Permitted Holders, determined after such person’s or group’s most recent acquisition of outstanding voting power of WMIH’s voting equity interests; unless the New Permitted Holders have, at such time, the right or the ability by voting power, contract or otherwise to elect or designate for election at least a majority of WMIH’s board of directors; or (d) a sale of all or substantially all of the assets of Seller.
“Merger” means the occurrence of a merger of W and Merger Corporation, a Delaware corporation and a wholly-owned subsidiary of WMIH, with and into NMH, with NMH continuing as the surviving corporation and a wholly-owned subsidiary of WMIH.
“New Permitted Holders” shall mean KKR & Co. LLP, management of WMIH, KKR & Co. LLP controlled investment affiliates and any other Person who directly or indirectly through one or more intermediaries controls, or is controlled by, or is under common control with
KKR & Co. LLP (but, in each case, excluding any “portfolio company” (as such term is customarily used in the private equity business) of KKR & Co. LLP). For purposes of this definition, the term “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative of the foregoing.
“WMIH” means WMIH Corp., a Delaware corporation.
========
Read this again and slowly', because loudosss and friends' ... just don't get it' ...
“Merger” means the occurrence of a merger of W and Merger Corporation, a Delaware corporation and a wholly-owned subsidiary of WMIH, with and into NMH, with NMH continuing as the surviving corporation and a wholly-owned subsidiary of WMIH.
========
... Own The Parent' and Own The Sub' ...
just sayin' :)
AZ
~ First From 50 Cents to the $3.70's ? ... and then ... From $5.00 to $45.00 plus ? ... WMIH as "COOP" LOL' ~
simply follow what the WMIH CEO', Gallagher and KKR "CHOSE" to do and WHY' ... back in early' 2018 ... regarding WMIH' ... and its need to acquire a "servicing mechanism." ... which obviously ended up being NationStar and its subs' ... in July of 2018' ...
~ Profit ? Is Not A Dirty Word ~ ... debating louoddassss, and company won't make anyone a dime' ... duh'
COOP', was the tell' ... those big positive profit rides ?, are a thing of the past' ... TWO distinct opportunity's ...
Now ?, it's all about who were the original owners' ... :) ... of WMIH' (the reorganized WMI) ... and what asset values were privately shown to the Lead Arrangers and Their Affiliates, ... That Convinced Them' To Buy Into WMIH' ...? ... I think I know ... LOL' ) ...thanks for the profits taken)
just sayin' :)
AZ
~ Thanks ND', They' ? Could Have All Simply Walked Away', ... But There was simply too much to walk away from ... ~
Gallagher, KKR, etc. etc. etc. ... now ? simply a subsidiary group' ... COOP' ... Nope, No Not Hardly' ... There's a lot more to WMIH
just sayin' :)
AZ
~ Swiss', It Doesn't Matter' ... These People Sold' their positions and CAN NOT Repurchase through a US Broker' ... ~
... they' outsmarted themselves' ... outsmarted themselves out of a flippin fortune ... it happens all the time' ...
no one cares' ... no one' ... except for them', now coming back and simply posting' ...
The LBHI Holding Company Reorganization Happened, ... the Plan has been approved, ... the cash is just about all gone, ... so', LBHI Should Be ? implementing into a going concern ...
ADDED; ... (any trust can use end of year (12/31) tax advantages for 65 days into the new year)
just sayin' :)
AZ
~ Well ?, Just' In My Opinion' mind you, ... I View "COOP" (the Mr Cooper Group) exactly as what it is portrayed to be' ... A "Servicing Company" ... again, only using LLC as its ONE' operational sub. ... No More, No Less' ... I completely believe that WMIH' and IT's Asset Values, are still the Big Dog' ... Gallagher and KKR, Made Me A Believer' ~
So, ... AGAIN', ... In My Opinion ... I believe that COOP' as a depiction of a WMIH subsidiary group' will stay in these pps' area's for quite awhile ... which is why as I have said, I CHOSE to peel off and sell off a lot of my COOP Holdings, purchased in the $5.00 pps range, ... and sold in between $45.00 and $50.00 ... a $50,000.00 investment in COOP' a few years ago, now in the $500,000.00 profit range, ? ... was any easy decision to pull profit' ... just like buying WaMu at half of cash in the 50 cent range in 2012' right after the implementation ?, ... was a no-brainer' ...
I look at hard numbers, ... I saw the accumulated profit' getting to be a bit too much to have tied up in "COOP" ... I still hold my original amount' ...
I still completely believe that my original released ownership of the Reorganized WMI Holding Company, equity positions, ... uq's definitely, and P's and K's ? (we'll see) ... as well as my ownership of the WMB Fixed Income Bonds' ... will produce quite a nice LOAD of Cash' ...
In The Mean Time' ... I'm not mean' LOL'
just sayin'
AZ
~ BBan' I Had A Reasonably Similar Experience a Few Years Ago Myself' ~
After WMI's Reorganization, ... I also became interested in the WMB Notes' ... So, unlike a tradable equity, ... I began to place "orders to acquire" ... WMB' Fixed Income' ...
Many of my requests to acquire' never happened, but many did' ... and I accumulated (among everything else WaMu) ... a lot' ... over a million WMB Notes' ... multiple cusips' ... later to be listed and seen in the Globic' settlement
But, what I wanted to say was, that on one conversation from years ago, I simply asked', ... am I the only guy that is accumulating and holding these WMB Fixed Income Securities' ? ... He said, NO', Definitely Not', You Are NOT The Only One. ...
anyhew'
AZ
(P.S. ... ? ... I'm not here every day, But I just saw your pm ... wow')
~ Yes, This Is Correct' and Stated Quite Nicely ~
EC got hold of the plan and put class 19/22 in the same position in POR 7 and got access to the residual.
It’s all about the ‘residual’
~ NO', ... There Are TWO' Issues currently at Hand' and ongoing' ... The FDIC and the reconciling of WMB, ... and ... the Second is WMIH' and its asset values, PROVEN' to Exist' by Gallagher, KKR, the Second Rights Offering, and Those That Bought In, circa; 2018 ~
Does this HAVE to happen.
~ So, In My Opinion ? ... IF' You Released To Participate in WMI's Reorganization ? ... Your Release Is Directly Related To the present tense ... WMIH ... ~
WMIH and CEO' Gallagher, KKR, and the Second Private Rights Offering Are The "PROOF" of the asset values' ...
(IMO', there has been a lot of sloppy and poorly researched material coming from "both sides" ... )
Have A Great Day ... (well, to most' LOL) ...
just sayin' :)
AZ
~ Biz, ... the 2nd Is Alive In Arizona' ... Everyone Packs' Heavy Barrels' ... ~
... roll with the "so called" criminals', and make a few bucks along the way' ... "Gallagher's COOP Ride" ... from $5.00 pps to $45.00 + pps ... happened' ... Money Isn't Emotional ... neither is AZ
just sayin' :) ... :)
AZ
~ And Added: ... the Mr Cooper Group' "COOP" Can Not Pay A Dividend' ... Simply Because the Mr Cooper Group is a Subsidiary Group of WMIH' with LLC continuing to be shown as the only operational Sub' ... (which qualifies for a comedy special) ... COOP' can only buy back shares' ... Divi's paid to shareholders would need to be approved by the parent corp' ... WMIH ~
I'm an original owner' ... that released to Participate in WMI's Reorganization on MANY ownership levels' ... Yeppers, Paris in September was rockin', the kids happy with the condo', and the vette and the caddy are in the garage and smokin' coooool, ... BUT' ... WE' Are NOT Done' ... Nope, Nope Not Hardly' ...
... My Opinions' ...
just sayin' :)
AZ
~ Perfect' and Thank You for Responding DarkB4Dawn' ... I appreciate it ~
I'm going back to what many of us' that actually remember the process, regarding WMI' ... and "Believe" and cannot be deterred ...
So, here's where I'm going with this' ... I studied the Second PRIVATE' Rights Offering, and recently, I've become focused on Gallagher' ... the WMIH CEO at the end of 2017' and the beginning of 2018' ...
from the text,
At the onset of 2018' "Gallagher" found himself as the CEO of a Holding Company' (WMIH) with an Insurance Sub in Run-Off' ... WMMRC' ... and yes, that PLR was misunderstood', the one referencing the disposal of the Insurance Sub' ... (sloppy work done by b-p)
So, WMIH was listed as "Financial Services" ... and Could Have ? ... attempted to acquire any number of company's with the KKR owned transitional B' preferred ... But WMIH was focused on a "Mortgage Servicing Company" ... obviously NationStar' ...
WMI/WMIH/COOP has an advantage in servicing due to efficiencies and are marching toward a ~1T target while buying back the company at a good clip.
~ Nothing of Value ?, Nothing Coming Back ?, Well, ? It Would Have Been Easy To Walk Away or Disregard "WMIH" had any of that been true' ... But ?, That's Not What Happened', and That IS NOT The Truth ~
Some quite large participants' ... knew what the facts were' ... and CHOSE to keep WMIH going' ... the turning point was in early 2018' ...
just sayin' ... :)
AZ
~ WMIH CEO', Gallagher and KKR FIXED ... WMIH' ... in 2018' ... Why ? ... Because of the Extreme Amounts of the Original WMI Asset Values and Cash' ~
... NOTHING Has Disappeared' ... NOTHING' ... Absolutely Nothing'
just sayin' :)
AZ
~ To Have A Proper "Grasp" Of The TRUE Washington Mutual Reorganizational Process' ... "Stay Focused On The "Holding Company" ... From The Past through to The Present' ... "Today" ~
... originally WM' then to WMI', -reorganization implemented on 03/19/2012- ... now to WMIH ...
AZ
~ That's Right' ... "Ron Is Correct" ... JPMC Was Failing', and with JPM being the Country's Bank for Social Security, Medicare, etc. etc. etc. ... WaMu was Sacrificed and JPM was Shored Up Over Night using the "Mers" System with the transfer of WaMu's "Cash" ... WMI's own $4 billion, Plus The Deposit Base' held within' WMB and WMBfsb ~
... WMI (The Holding Company) Reorganized using its own cash' and its tax allowances' ... Plan 7' ...
AZ
~ Hello Walter and ND, and mostly' everyone else LOL' ? ... Keep The Faith Brothers' ... Everything Is Fine For Those That Released To Participate' in the original WMI Reorganization ... "Gallaghers Ride" on COOP' from $5.00 to $45.00 plus was pretty good', ... But ? What He' Did ? and Why ?, Was For The Original Company' ... WMI to WMIH ~
~ You Don't Have To Be The Smartest Person In The Room', You Just Need To Be Smart Enough To Know WHO' The Smart People Are ~
Happy New 2023' ...
just sayin' :)
AZ
~ I Don't Care' what anyone says ... Everyone Has The Right To What They Believe In ... right ? ... to what and how they invest ... right ? ... to how they spend their money ... right ? ... ~
... This whole WMI deal isn't over' ... not by a long shot' ... "Gallagher's Ride" ... worked for a sweet COOP 10 bagger' plus .. however, what He' did ? And WHY He Did What He Did', ... had a much, much, deeper and long term meaning ... reverting BACK to the original WMI / WMIH ...
AZ
~ For Old Times Sake Guys' in a New Year ... "Love On Your Family", ... and ~ COOP ? "COOP Was" The "Tell" ~ (past tense) ... Gallaghers Ride' ... Is Over' ... ~
(WMIH is still the Parent) ... (the Mr Cooper Group' is still a Subsidiary Group) ... and ... ? ...
the Original Owners of WMI', ... that Released to Participate ? ... will still' be in receipt of their promised fair and equitable returns' ... and as always, ... IMO
Happy New 2023' ... just sayin'
AZ
~ Thank You Old WaMu' Friend' ... You'll Be Pleased to Know That BOTH' the Vette & The Caddy are "sportin" the State of Arizona Purple Heart Designation License Plates' ... Ask Around, A Few of the COOP / WMIH Brotherhood Have seen Photo's ! ~
... Nose to the grindstone' and Love That Family of yours' with all that's in you ...
Peace'
AZ
~ Well, Good' ... I'm Glad You Have Done Well' with COOP / WMIH ... I'm Not Complaining, nor Do I EVER FEEL GUILTY About Having the Money Able to be Used to Generate More' Money ~
... Everyone's Banking Accounts Have A Separate amount of digits' ... I Worked for Mine, unlike the current generations' with their f-n' gimmeeee's ... not me
I obviously still own COOP' ... However' ... "Gallaghers Ride is over" IMO' ... the 9 and 10 bagger possibility's are done' ... But Again ? That ? Is My Opinion' ...
AZ
~ Woody', I've Always Thought Well of You', But Honestly' ... However, whether one Has the "Wherewithal" To Do Alternative Investing, Is A Separate Issue ... Thank You' for the compliment ... I'm retired now, but I've studied and worked hard my whole life, Served my country, and owned my own business, and have now sold it' ... ~
I'm not an angry person ... I look at life as a gift ever since Nam' ... I'm sorry that many lost, but that's where the room gets quiet' ...
I still believe in a number of positives, however I stopped posting anything serious for obvios reasons ... I made a calculation error, and Smioth's slick wording got me with the "WMI-LT's issues of ESC Cusips" .... But that was only one segment' ...
My best to you
AZ
~ Being Able to Buy COOP @ $5.00 (a lot) and then riding it up to $46.00 was an easy "Tell" ~
... Yeppers, very easy after watching Gallagher' ... Now, ? ... it's range bound, for awhile ... that's IMO' LOL ... I sold off a lot' of the adds' ... and kept the originals ...
and Yes, ... Indirectly to your question ... the "Tell" ?, was not just discussed here' ... "Watch The Newco (WMIH / COOP) It Is The "Tell" ...
Now, planning on a month in Spain / Portugal ... hotrods are in the garage, and the condo is done, ... everyone's happy' ...
Take It Easy' ...
AZ
~ "Nice", ... "when Lehman Brothers' main European arm exists administration" ... (when' not if) ... yep, everybody knows it's going to happen' ! ... ~
just sayin'
AZ
~ 03/06/2012 Was The WMI-LT's Original Activation Date' ... There Is Only The One' WMI-LT ... and, This is It's Registration ... ~
The WMI-LT was registered as a "Statutory Trust" ... and considered as a grantors trust / pass through ... For Taxation Purposes' ...
... There NEVER WERE Two' ... There Was Always' ... Only The One' ... This One as presented by IPrelude. ...
I'm not sure exactly where or who ?, the thoughts about there ever being TWO' WMI-LT's began or came from ? ... but any of those considerations are simply NOT TRUE;
... the WMI-LT has been irrelevant to any equity class distributions for a very, very, long time' ...
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170844229
just sayin'
AZ
(Doreen was texted as notification of the craziness')
~ Thanks Bban, and a Merry Christmas to You Also' ~
AZ
~ Good Morning and a Merry Christmas To Everyone', Especially to my Special Friends, Jim and Ron ~
just sayin' :)
AZ
~ I'm using the wrong word' "debtors" ... sorry' ... I guess I'm referring to the "claimants" ... ~
anyway' ...
AZ
~ Oh Brother' SMH' ... I'm Talking About the IMPLEMENTAION' of LBHI as a "Going Concern", when that point in time occurs ? ... capiche' ? ... NOT The Plan of Reorganization', or the Assets of the Plan Trust' ... or the Trustee needing to pay a bill' ... (duh) ~
... Sorry cottonbal-firestarter' ... that (your) confusion ? ... doesn't carry over to me' ... besides, I asked TooGood, I figured you would ... f' ... it up ... which you did'
just sayin' :)
AZ
~ No, I Was Thinking More Along The Lines of A Loan' From One or More Of The "Debtors", ... "Debtors" That Would Stand To Benefit From the LBHI' Plan's Implementation, While The Debtor'(s) Could Continue to take advantage of the NOL's as well, as described in the link I provided' ~
... LBHI's Implementation as a Going Concern' ... will need some Actual Hard' Cash' in order to begin to function ... Utility Bills, Office Space', employee's' ... etc. etc. ... The Actual Cash needs to come from outside of LBHI's Implementation
just sayin' ;)
AZ
~ Great Post', (I agree) ... Needs A Bump' ~
"BUT IN OUR CASE" ... "BUT" ...
"and unpaid dividends accrue."
Yes, That is something I like very much but in our case, I recall that they have been 'paying' the dividends/Interest Payments but they were getting redirected to the Higher Creditor classes in the APR Chain. So, if CTs get re-instated, we may not receive any unpaid dividends, only the ones going forward...But I would be Very Happy with That! Just 'Float up' the CTs to their FV and re-instate back the Dividend Payments and I would be Very Happy with that Action....
~ TooGood', I'm Just Thinkin' ?, and correct me if I'm wrong, BUT' the LBHI's, Reorganizations Completion and its Enter into the Market as a Going Concern ... would need a loan ?, or a deposit of some Cash' upon "Implementation" ... LBHI has to be at a level of ZERO Cash', which ? with only $12m ish' left ? ... is now ... right ... So, back to the NOL's ... ~
I just find this segment interesting, as the "Debtors" are able to gain value as well from the NOL's for a few more years' ... SO, in would behoove the Debtor's to keep and help LBHI ... right ? ...
========
Quarterly Financial Report as of June 30, 2022 (Unaudited)
https://www.sec.gov/Archives/edgar/data/806085/000119312522254189/d393564dex991.htm
Net Operating Losses
The NOLs of the LBHI Tax Group (including LBHI-Controlled Entities) are subject to audit and adjustment by the IRS and primarily expire in or about 2028. Substantially all of the LBHI Tax Group’s current consolidated net operating loss carryovers are attributable to the Debtors. The Plan provides for an orderly liquidation of the Debtors. As previously disclosed in the Company’s Quarterly Financial Report as of March 31, 2012 [Docket No. 29731], the LBHI Tax Group received a private letter ruling from the IRS in connection with the Plan going effective that stated (i) the liquidation of the Debtors for U.S. federal income tax purposes may occur over an extended period, and (ii) the reduction of the LBHI Tax Group’s NOLs as a result of the discharge of debt pursuant to the Plan generally would not occur until completion of the liquidation.
In January 2020, the Company received a supplemental IRS ruling extending the original ruling relating to the Company’s liquidation. All remaining Debtor NOLs not previously utilized to absorb taxable income of the LBHI Tax Group are expected to be fully utilized to offset income resulting from the discharge of debt on the final date of liquidation of LBHI.
========
... I think ? ... "We" are f-n' close ... ;) ... always in my opinion of course, personally backed up with my own choice of ownership purchased with my own' CASH', using a US Broker'
just sayin' :)
AZ
~ That Is Correct TooGood', ... Wooohooo & Company WILL NOT Receive ANY LBHI Cash Already Earmarked To Be Paid To The Debtor's ... NONE' ... ~
"YOU AND MR WU WILL NOT GET CREDITORS MONEY PERIOD!!!"