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Friday, December 23, 2022 10:22:39 AM
I just find this segment interesting, as the "Debtors" are able to gain value as well from the NOL's for a few more years' ... SO, in would behoove the Debtor's to keep and help LBHI ... right ? ...
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Quarterly Financial Report as of June 30, 2022 (Unaudited)
https://www.sec.gov/Archives/edgar/data/806085/000119312522254189/d393564dex991.htm
Net Operating Losses
The NOLs of the LBHI Tax Group (including LBHI-Controlled Entities) are subject to audit and adjustment by the IRS and primarily expire in or about 2028. Substantially all of the LBHI Tax Group’s current consolidated net operating loss carryovers are attributable to the Debtors. The Plan provides for an orderly liquidation of the Debtors. As previously disclosed in the Company’s Quarterly Financial Report as of March 31, 2012 [Docket No. 29731], the LBHI Tax Group received a private letter ruling from the IRS in connection with the Plan going effective that stated (i) the liquidation of the Debtors for U.S. federal income tax purposes may occur over an extended period, and (ii) the reduction of the LBHI Tax Group’s NOLs as a result of the discharge of debt pursuant to the Plan generally would not occur until completion of the liquidation.
In January 2020, the Company received a supplemental IRS ruling extending the original ruling relating to the Company’s liquidation. All remaining Debtor NOLs not previously utilized to absorb taxable income of the LBHI Tax Group are expected to be fully utilized to offset income resulting from the discharge of debt on the final date of liquidation of LBHI.
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... I think ? ... "We" are f-n' close ... ;) ... always in my opinion of course, personally backed up with my own choice of ownership purchased with my own' CASH', using a US Broker'
just sayin' :)
AZ
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