Lehman Brothers Financial SA (LEHNQ)

[highwaymap]

Are you talking about the exception to the NOLS? Like I said earlier, creditors can replace equity in a scenario where NOLs were to survive or spunoff/merge.

I agree with your post. My take is Creditors can potentially take 100% of the NOLs if they were to survive. You are at 99%, close enough.


Please note: That is only if they use the exception. Just know its out there.