Lehman Brothers Financial SA (LEHNQ)

[Joe Stocks]

*" with no objective to continue or engage in the conduct of a trade or business" *

>>NO ONE CAN HAVE THE OBJECTIVE OTHER THAN LEHMAN ITSELF! <<

Major point that you do not understand. Lehman pre bankruptcy no longer exists. There is no business. Barclay's even owns the Lehman trademark. Lehman only exists as a court ordered liquidating trust in the hands of a trustee managed by a liquidation unit of Marsal & Alvarez to liquidate Lehman's assets. Remember the brokerage was sold to Barclay's. The bank was liquidated by the SIPC. All the affiliates have been liquidated and closed. All that is left is the holding company which was only that, a holding company for these other units that are now gone.
And now liquidating the holding company assets.

There is also nothing to recapitalize.Why assume former debts like the CTs if one is putting up all the capital to build a business? The NOL's? There are none. There is no exemption from COD income to save NOL's. You don't post the exemption because there is none. The only exemption they received was being able to wait to the end of the liquidation to discharge all debts as stated in the quarterly report.

"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."