LBHI in November of 2008, originally asked to have the Common shares and the Convertible Preferred shares restriced to certain ownership change rules, post filing.
Now...18 months or so later, LBHI is further requesting that the Regular Preferred shares C, D, F, J, etc. be included retroactively so that no more than 4.5% of any class (I believe that means series) is owned by any one entity.
LBHI is requesting this is to preserve the Net Operating Losses of $48B for the Debtors. There is also some discussion in the LBHI Docket# 6699 that some of the Preferred classes maybe considered creditors!
I kind of warmed up to that idea... No discussion of which Preferreds. Thought it might make for a good discussion.
Coach T