EOS Preferred Corp Series D Pfd (fka EOSPN)

[h_man_investor]

You are correct. The mandate to sell Aurora was part of a settlement between the OTS, the bank and Lehman and it settled a lawsuit between Lehman and Aurora over tax loss carry forwards and mortgage servicing rights (amongst a few other things).

The requirement to sell wasn't necessarily mandated by the OTS but was mandated by Lehman as part of the CMA.

The mandate also states that if by Feb 28th the bank isn't likely to be sold, the bank will submit a liquidating plan.

Having said that with the way things has operated in the past, it wouldn't surprise me if the timeline is deferred- but as long as EOS pays a dividend, I don't really care!