Lehman Brothers Financial SA (LEHNQ)

[highwaymap]

All NOLs have an expiration dates. They carryforward 20 years and carrryback like 3-5 years. They can still use the NOLs to offset taxable income like discharges.

Its 2022, about 5.5 years left. The NOLs value to a new entity or a buyer has significantly decreased over time. Even a new spinoff entity will only benefit a few years if even that because there will be a wrap up company.

In todays market and entering recession, most companies wont need NOLs until 2+ years out. They also have their own to use. Time is not on your scenario's side.