Sears Holdings Corp. (fka SHLDQ)

[justthefactsmam]

tiger (guess we shouldn't shorten your name to the initials)

you ask:

"So, in plain English you are saying that if Eddie has to get NOLs (Tax credits), he has to make commons safe or give them an exchange? Right??"
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i'm saying that i think if eddie gets the tax credits, as i read the irs rules (and i'm no tax/bankruptcy accountant) shldq stock will be exchanged for share of transform holdco.

or said another way, i feel that eddie has to get the tax credits if shldq stock is going to be worth anything since i don't think there is or will be anything of value around which sears holdings can reorganize to monetize the nols if left with the bankrupt company and if eddie's company doesn't get the tax attributes then i don't see any obligation on his part to "save" shldq stockholders.

i'm going to do a post either later on this evening or tomorrow morning quoting from three different sources which will point out the confusion around this tax issue and why it is so difficult to try to make sense of it.

will probably do a new message and let is show up as "tax attribute confusion" or something to that effect.

linda and i have been going back and forth on this tax issue for some time and what i will post will just reinforce the confusion and frustration she has expressed regarding this issue. it's somewhat hard to rely on historical documents which have been filed both with the court and via sec filings which seem to say or suggest different outcomes on the same issue.