Friday, July 10, 2020 1:19:13 AM
LBHI Plan Trust was formed on the Third Amended Joint Chapter 11(The Plan)
ED(Effective Day) 3-6-2012 (Plan Confirmation on 12-6-2011)
Usually it can be extended 6 months prior to expiration with approval from IRS and bankruptcy court.
Assuming if there is no extension by Sept 6, 2020, The Plan Trust will expire on 3-6-2021. Distribution to former equity interest holders in a form of new equity interest of the reorganized debtors, already allocated and deposited to each beneficiary election account on ED, as registered as escrow marker, will show up on stage in your stock trading account. (IMHO)
The escrow marker will be replaced by new shares accordingly.
Please comment.
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