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Friday, July 19, 2019 8:59:28 PM
Oh, my lord! Read and study more, talk (post) less.
If Lehman has zero assets (which they will after everything is liquidated) they have no equity to exchange. (BTW, it is debt FOR equity not "to". Debt to equity is a financial ratio.) With debt for equity, how is any money raised?
And what do you mean about shares that "just float in the market?"
And why would anyone re-issue debt? The BK allows them to cancel it if not enough funds are available. And also NOLs can not be marketed. In other words, they can't trade debt for NOLs. That is IRS code section 382 no-no.
Keep in mind that the CTs also do not have any assets. They have no equity. They have nothing to bring to the table. All they own is a class 10b claim that will receive zero distributions.
Joe Stocks
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