Windstream Holdings Inc. (fka WINMQ)

[justthefactsmam]

The purpose of windstream's docket # 719 was to permit win to preserve their tax attributes which include significant nols.

People following other bankruptcies involving nols should see this as a similar tactic. those filings established that lampert and his controlled companies were both majority shareholders before bk (as holders of shldq stock and debt) as well as after the 363 asset sale to transform holdco. transform holdco is 100% owned by lampert. since lampert satisfied the "at least one shareholder" requirement, the tax attributes of shc were able to be purchased by transform holdco as described in the asset purchase agreement.

as discussed above, the purpose of this filing is to identify any >5% owners as well as any holder who files a tax return CLAIMING the stock is worthless.

the purpose of this filing is to prevent any adverse changes in ownership of win (pre bk filing) as well as after.

one of the ways for nols to transfer in bk is for at least ONE majority shareholder (pre bk) to also be a majority shareholder in a post bk entity. also, if there are some changes of control there needs to be some continuity of proprietary interest for the nols to be transferred.

a news article subsequent to the docket filing which some have interpreted as meaning this stock is worthless IS NOT new news and the interpretation is incorrect.

post #719 addressed the nol issue in docket #5. docket #5 presented this issue almost a week before the news article. it's nothing new and it doesn't declare the common stock to be worthless.

As described in the filing, if any shareholder were to attempt to declare their holdings worthless (so long as judge drain approves this motion) win has the ability to "force" such stockholder (under terms of the bankruptcy ruling) to reverse any such action which would be detrimental to the preservation of win's tax attributes.