Washington Mutual Preferred fka WAMPQ

[lxu0077]

Question on NOL's...(and I recall seeing the figure for wamu's NOL's anywhere from 10B - 20B)

BK court usually establishs trading restrictions on BK stocks to protect the debtor's interest in NOL's...(so that nobody could just buy all the BK stocks outright on cheap just to gain ownership and start claiming for the NOL's)...but what happens if the debtor cancles the stocks (common, and/or preferred), and most of them do end up canceling the stocks...someone suggests that debtor losses the NOLs if they cancle the stocks...is that really true...could anybody confirm that...