The facts are our Guarantees are no longer effective. It is your "believe" that class 12 will get paid and therefore out 10B claim will be paid too. That is your believe and you are entitled to it. But, not everyone share your believe and if your believe can become reality is yet to be proven.
We can all dream. You can have your dream too. But, I am going to be realistic. LBHI said they will use the discharge. And if you think they will use the discharge on the higher classes only and save the rest of the after life NOL company for CT holders and equity then, good for you. I hope you are right.
LBHI also already said they will use the NOLs to offset the discharge. And there will be zero NOLs after that. You can also ignore that fact. Its all good. We can all dream.
I no longer believe in the NOL afterlife theory anymore without the continuing existence of the Guarantee. And without the protection of the discharge provision, that is where we are heading.
Keep in mind, LBHI do not need the CTs for a supposedly NOL afterlife company. They don't even need equity and can still utilize the NOLs fully as per an exemption. With that said, even if they were to include the current equity for the NOL company, why would they include our CTs if they are not obligated too. Because they like the CTs so much? Keep in mind we no longer have the Guaranatee which houses the "quasi" provision. We are not quasi anything. They will include the CTs in the afterlife company because they like and favor us. right. Like I said, we can all dream and you are entitled to yours too. Good Luck. V.
