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bkshadow

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bkshadow

Re: bkshadow post# 20

Wednesday, 11/29/2023 5:19:28 PM

Wednesday, November 29, 2023 5:19:28 PM

Post# of 38
The wait is because of IRC 382. In order to preserve the NOLs for the emerged debtor the basic rule is at least 50% of the new owners where existing owners (stock) and/or 'qualified creditors.' To be qualified, just in a simple term, there is generally an 18 month holding period for the debt holders to qualify to be in that group with equity.

Hopefully, AUDA management and the senior creditors are not working together in a way that will get certain debt holders to their desired holding period.

BK court will certainly not be too happy with such.

Again, probably would be good to see MW, Nate etc. in the fray on this one. Would certainly provide some sunshine.

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