Tuesday, March 20, 2012 8:33:37 PM
I agree, many did sell post BK, however, there are other ways to retain NOLs other than the old & cold.
One important one is you can still retain NOLs without equity and CTs by merge/selling the company (at the very end of the liquidation/POR).
Yes, it is a change in ownership, but IRS allows 1 change of ownership every 2 years and still preserve tax attributes.
So in essence, higher tier creditors can still keep everything to themselves and cut all other junior creditors and equity out.
imo
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